What major policy shift did the Reserve Bank of India (RBI) announce regarding the Indian Rupee in July 2022?
Quiz Options
- Devaluation of the Rupee
- Introduction of a gold-backed currency
- Allowing international trade settlements in Rupee
- Banning foreign currency transactions
Explanation
The RBI permitted the international settlement of trade transactions in the Indian Rupee in July 2022, aiming to promote cross-border trade and establish the Rupee as a global currency.