Machine Learning

The Indian government has been working on a plan to trade with Iran in rupees and the first test of this will be the sale of crude oil to India The Iranian government has given permission to the Indian government to use Indian rupees in the payment of crude oil imports from Iran The payment will be carried out through the rupee-rial account This arrangement is expected to be a big boost for the rupee as the Indian rupee will become a recognised global currency The International Monetary Fund (IMF) has also agreed to the USD-free trade with Iran and has given its approval in this regard to the Indian government The rupee-rial account will be a beneficiary of the IMF decision The rupee-rial account was activated by the Reserve Bank of India (RBI) with an aim to facilitate the trade between India and Iran and the opening of the account was a part of the payment mechanism under the India-Iran-Afghanistan Trilateral Agreement on Establishment of International Transport and Transit Corridor The rupee-rial accou