India Says No to US Dollar Replacement, Backs Greenback’s Role
India has once again distanced itself from the rising de-dollarization accusations. The latest update follows how India has actively denied its involvement in exploring US dollar alternatives, stressing the dollar’s evergreen role as the reserve currency, with no plans of ever replacing the asset with other notable competitors. Also Read: Belarus Expands Local Currency Usage In A Major De-Dollarization Shift India Backs Dollar in a New Update Source: Economictimes.com India has once again reiterated its former stance, adding that the nation is not intersecting with any other currency besides the USD. In a recent interview, Chief Economic Advisor of India V. Anantha Nageshwaran shared how India is not a part of any such narrative that promotes the usage of alternative currencies besides the US dollar. “No, certainly not. I think India is not part of any such initiative,” he said in response to a question if India is looking at an alternative currency to the US dollar for glob...