Despite RBI’s efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and settlement saw only modest growth over the past two fiscal years. This highlights the significant ground India must cover to internationalize its currency in a dollar-dominated global trading order.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend