New India central bank chief: To push for more rupee trade settlement

Reuters

MUMBAI (Reuters) - Reserve Bank of India Governor Raghuram Rajan said on Wednesday that India would push for more rupee settlement of trade.

"As our trade expands, we will push for more settlement in rupees. This will also mean we will have to open up our financial markets more to those who will receive rupees so that they can invest it back in," Rajan said at a news briefing on his first day in office.

(Reporting by Tony Munroe; Editing by Rafael Nam)

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