Russia and India break dollar dominance: 90% trade in their own currencies!

Russia and India break dollar dominance: 90% trade in their own currencies!

Attention, attention! The global economic structure is being shaken up! Russia and India have pulled off a spectacular maneuver: almost 90% of their direct transactions now pass through national currencies, according to Russian Ambassador to India Denis Alipov. The staggering trade value between the two giants: a whopping $64.5 billion in the first eleven months of 2024! Russia increased its exports to India by 7.7%, while India shone with a gigantic increase of 23.3% in exports to Russia. That sounds like a real game-changer on the global economic stage, eh also reports watcher.guru.

But that's not all! The two nations are not only merging their currency systems, but are also planning the interaction of their payment systems - Russia's Mir and India's RuPay. The military is not left out either: “Russian or Soviet designs make up over 50% of India’s weapons arsenal,” said Alipov. A highlight of the successful cooperation: the production of BrahMos missiles since 1998. India's military potential is skyrocketing, while Russia is benefiting economically from this solid alliance. The world is watching eagerly to see whether this major currency revolution has further reverberations on the global playing field.