In what ways can the adoption of the Indian Rupee in financial transactions promote investment opportunities and financial inclusion in developing countries?
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
The adoption of the Indian rupee in financial transactions promotes investment opportunities and financial inclusion in developing countries in a multitude of ways. Firstly, an internationally recognized rupee system will ultimately strengthen India’s regional influence and position, making it a major economic player in Asia. Its growing importance in the sub-continent will promote trade and investment within the region, fostering economic collaborations and joint project initiations among the developing nations. As the INR becomes a more prominent transactional medium, more and more countries will accept it as a basis for international trade, especially developing nations, which might find it in their interest to hold INR as part of their foreign exchange reserve to diversify and stabilize their portfolios. Hence, more foreign investment occurs in the developing regions in and around India, with financial inclusion occurring in the form of global interconnectedness.
Thank you for your response