Indian rupee to become the king of currencies

As we all know how much significance does a dollar carry internationally it is the highest exchanging currency used in different countries as a medium of exchange.

But now Indian rupee has created a dominance among international markets and has become the king of currencies as the countries like Sri Lanka and Russia has adopted the INR currently.

Reportedly it is said that government of India was trying to bring those countries who were in deficient of dollar into the extent of Indian rupee mechanism.

Central bank of srilanka (CBSL) said that it was waiting for RBI's ( reserve bank of India) to approve them to use Indian currency. After seeing Sre lanka and Russia to adopt this Indian trade mechanism now countries like Tajikistan, Cuba, Luxembourg and Sudan has showed their interest in this.

If rupee will become international currency it will have immense effect on India, it will help in assessing Venezuelan crude , the Vostro account of RBI will help in creating trade internationally in terms of Indian rupee.And the problem of India's trade deficit will be strengthened.

Report by Nandini Chawla

Graphics by Nandini Kapil