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Podcast: businessline's State of the Economy Podcast
Episode: What will it take for Indian rupee to become one of the reserve currencies?
Description: In this episode of the State of the Economy podcast , Madan Sabnavis, Chief Economist, Bank of Baroda, explains the concept of internationalizing the Indian rupee, aiming for its acceptance as a hard currency globally. Internationalization would mean that the rupee becomes widely acceptable for trade and payments across countries, similar to major currencies like the US dollar or euro. This move would benefit India, particularly as it faces trade deficits and requires foreign exchange to support imports. By using the rupee for international transactions, India could save foreign exchange reserves and reduce exchange rate pressures.However, achieving...