RBI allows exporters to settle trade in rupee; Will help control domestic currency’s fall:

The Reserve Bank of India (RBI) has put in place a mechanism under which the final settlement of export and import payments by Indian traders can be made in rupee.

Besides helping curb demand for foreign exchange and, thereby, support the Indian currency, the move will also facilitate unhindered trade with sanctions-hit Russia and trouble-torn Sri Lanka.

[Via]