📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      In May 2024, India agreed with which country to work

      towards an early conclusion of the Local Currency Settlement System Agreement for enabling trade in domestic currencies?
      A South Africa Correct Answer Incorrect Answer
      B Nigeria Correct Answer Incorrect Answer
      C Brazil Correct Answer Incorrect Answer
      D Russia Correct Answer Incorrect Answer
      E Kenya Correct Answer Incorrect Answer

      Solution

      In May 2024, India and Nigeria agreed to expedite the Local Currency Settlement System Agreement to facilitate trade in their respective domestic currencies. Details- • Purpose: The agreement enables trade transactions and settlement of capital and current account transactions using local currencies. • Additional Discussions: Both countries also explored cooperation in the United Payments Interface (UPI) system at the Joint Trade Committee (JTC) meeting held in Abuja, Nigeria.

      Practice Next
      ask-question