New Delhi. It’s been two months since Russia’s attack on Ukraine. In these two months, the economic condition of most countries of the world has deteriorated. There is inflationary pressure everywhere. Countries’ currency rates have fallen. Even the condition of the US dollar has wavered, but in the midst of all this, there can be good news for India. The trade with Russia is opening the way to do business with the rupee and ruble. This may strengthen the position of the rupee. Due to the strengthening of rupee, there is a possibility of tremendous increase in foreign exchange reserves.
There has been a lot of trade between Russia and India in recent times. India is buying crude oil cheaply from Russia. Russia has approved the use of rupee and ruble for this. That is, if Russia buys something from India, then it will pay in rupees and if India buys crude oil from Russia, then it will pay in rubles. According to government sources, Russia has now offered India to do mutual trade in ruble and rupee only. Due to this, the rupee can become very strong in the coming days. By which he can become a force to be reckoned with in the world.
Now let’s talk about the Russian currency Ruble. After the invasion of Ukraine, the ruble’s condition had deteriorated significantly. Talking about March 10, the ruble had fallen to its lowest level against the dollar, but in the past few days the ruble has touched a lot of heights. Today i.e. on April 30, 1 ruble has become 0.0136666 US dollars. Although its price is still very low compared to the level of 2012, but the value of the ruble is steadily improving amid the sanctions imposed on Russia by the US and European countries. The rupee is also expected to benefit immensely from this.