Submitted By: Saurabh Kesarwani
FAQs on International Trade Settlement in Indian Rupees (INR) in terms of A.P. DIR Circular No. 10 dated Jul 11, 2022
These FAQs explain the framework introduced by the Reserve Bank of India under A.P. (DIR Series) Circular No. 10 dated 11 July 2022, which permits international trade transactions to be invoiced, paid, and settled in Indian Rupees (INR). The FAQs clarify key aspects such as eligibility of exporters and importers, operational procedures, the role of Special Rupee Vostro Accounts, compliance requirements, and reporting norms. The framework aims to promote the use of INR in global trade, reduce dependence on foreign currencies, and facilitate smoother trade settlements with partner countries.
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