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June 09 Internationalization of rupees is a process that involves increasing use of the Indian rupee in cross-border transactions. It involves promoting the rupee for import, export and other current account as well capital account transactions. These transactions take place between resident and non-resident Indians. But before rupee is internationalized, there are some conditions are to be fulfilled. What are they? Internationalization of rupee requires full convertibility of the currency and a restriction free...
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