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The Reserve Bank of India, RBI is India’s central bank also responsible for the regulation of the Indian Banking System. Indian currency, the rupee has had a low value as compared to a dollar for years. Due to inflation and the growing economy the value of a rupee never even came close to a dollar. But this can be changed with the help of a brilliant strategy made by the RBI to replace western Swift system, which favored USA and European Union countries like UK (whose Sterling Pound) ruled the system earlier. India is joining in the race along with China and Russia to create it’s own finance system and also has announced internation trade in Indian Rupees. Watch this video to understand RBI’s brilliant strategy to make a dollar equal to less than a rupee.
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