Discover and read the best of Twitter Threads about #rupees

Most recents (3)

.... the FCD scheme that allowed
#Pakistanis to convert illegal or undeclared income into #dollar accounts, without fear of legal retribution, started in 1991 and ended in 1998. Its demise occurred when the government froze hard currency withdrawals and repaid everyone (1/13)
the value of their deposits in Pakistani #rupees to deal with the foreign currency crisis created by sanctions imposed after Pakistan’s #nuclear tests in 1998.

Other schemes to deal with diminution in concessional flow of foreign #funds have veered from the dangerous to (2/13)
the comical. In early 1991, soon after the US invoked the sanctions under the Pressler Amendment, ‘Pakistan’s army chief and the head of its intelligence agency proposed a detailed “blueprint” for selling heroin to pay for the country’s covert #military operations.’ The (3/13)
Read 13 tweets
#Rupee has fallen far lower Vs #Dollar,comparatively👇

Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro

Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪

So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees

Explained👇
When countries import&export goods&services,they have to make payments in foreign currency

Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations

This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Read 6 tweets
Explained: International trade settlement in #Rupees and why #RBI is doing it

businessinsider.in/finance/news/w…

By @jainrounak
#RBI’s efforts to keep the #Rupee stable and cut down the use of the US Dollar – a decades-old habit that most of the world seems unable to shake off – has seen an earnest beginning with the central bank now allowing invoicing of international trade in Rupees.

#RupeeVsDollar
What is international trade settlement in #Rupees?

When countries import and export goods and services, they have to make payments in a foreign currency. Since the US Dollar is the world’s reserve currency, most of these transactions are entered into US dollars.

#RupeeVsDollar
Read 8 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!