India, Malaysia Move Off Dollar to Settle Trade in Indian Rupee

More consequences from the Biden Administration’s disastrous economic policies. Under Biden’s anti-American policies, de-dollarization is cascading across the world.However, the economic repercussions that de-dollarization represents for the United States is only part of the story. If the U.S dollar loses it’s status as the world’s reserve currency, the United States will not be able to sanction the world’s most dangerous nations. Expect our adversaries to go on the prowl if de-dollarization continues. Again, no media coverage from America’s legacy news networks on this development.

The announcement is seen as a decisive step towards de-dolarisation and an effort to safeguard Indian trade from the impact of Russia’s war in Ukraine and its subsequent fallout and sanctions

The Hindu.com, April 3, 2023

India, Malaysia move beyond dollar to settle trade in INR

India and Malaysia have agreed to settle trade in the Indian rupees, the Ministry of External Affairs announced on on April 1, 2023.

The announcement came in the backdrop of ongoing official efforts to Safeguard Indian trade from the impact of Ukraine crisis. The shift away from The U.S. dollar which has been the dominant reserve currency for international trade so far has added significance as it indicates India is willing to take concrete steps towards de-dollarisation of its international trade.

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