look news india
It will now become easier for tourists traveling from India to Indonesia to make payment. Now there will be no hassle of changing notes. Indian tourists will also be able to pay there in rupees.
The Reserve Bank of India (RBI) signed an MoU with the Central Bank of Indonesia. Under this agreement, a framework will be prepared to promote the use of Indian Rupee and Indonesian Rupee in mutual transactions between the two countries.
It is worth noting that the value of one Indian rupee is 188.11 Indonesian rupees, that is, if you have Indian currency of 100 rupees then it is approximately equal to 18,811 Indonesian rupees.
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Let us tell you that there are many other countries in the world where the Indian rupee is used. Zimbabwe does not have its own currency. The Indian currency Rupee has been used as legal tender in this country since 2014. One Indian rupee is equal to 5.85 Zimbabwean dollars.
One Indian rupee can buy 1.60 Nepalese rupees. The extent to which Indian notes are used in Nepal can be gauged from the fact that when India implemented demonetization in 2016, Indian notes worth about Rs 9.48 billion were in circulation. Indian traders get more Nepalese currency for one Indian rupee, so Indian traders are willing to trade with Nepal. Apart from this, Indian rupee is also used in Bhutan, Bangladesh and Maldives.
It is noteworthy that the Indian currency 'Rupee' is rapidly becoming an international currency. The Indian rupee has become the fourth international currency to be accepted at currency exchange counters at airports globally, after the dollar, pound and euro.
At present there are a total of 18 countries in the world which are doing business in Indian currency. India has opened Vostro accounts in these countries. This type of account is mandatory to trade in rupees with other countries. These countries include Botswana, Fiji, Germany, Guyana, Kenya, Israel, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and America.