New FAQ Page 2 - RBI - Reserve Bank of India
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International Trade Settlement in Indian Rupees (INR)
Answer: The AD bank in India shall be responsible for the reporting of transactions taking place in the Special Rupee Vostro Account of the correspondent bank of the trading partner country.
Answer: As the transactions will be settled in INR, it will reduce the exchange rate risk for the Indian exporters and importers.
Disclaimer: These FAQs are for general guidance purpose only. In case of any inconsistency(ies) between FAQ and FEMA, 1999, Rules/Regulations/Directions/Permissions issued thereunder, the latter shall prevail.
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Page Last Updated on: December 11, 2022
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