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📈 WHALE INSIGHT: Japan and India Establish Bilateral Payment System in Local Currencies, Paving the Way for De-Dollarization between US Ally and BRICS Member
Japan and India are set to announce a framework for direct payment between the yen and rupee, allowing businesses to conduct cross-border transactions without converting to the US dollar. This marks the first time a key US ally and a core BRICS member have included a local currency cooperation in a high-level leadership statement.
The proposed framework enables non-resident Japanese individuals to open accounts at Indian banks, facilitating direct transactions between financial institutions without using the US dollar as an intermediary currency. By eliminating the need to convert to dollars, businesses can reduce foreign exchange costs and transaction fees, while also shortening processing times.
The system is expected to be implemented by major commercial banks in both countries, aiming to support Japanese businesses expanding into the Indian market and encourage private capital flows into infrastructure, manufacturing, and supply chains. The Japanese Ministry of Finance aims to sign a memorandum of cooperation with the Reserve Bank of India by the end of the 2026 fiscal year.
#halvingjobs #DeDollarization #BilateralTrade
Japan and India are set to announce a framework for direct payment between the yen and rupee, allowing businesses to conduct cross-border transactions without converting to the US dollar. This marks the first time a key US ally and a core BRICS member have included a local currency cooperation in a high-level leadership statement.
The proposed framework enables non-resident Japanese individuals to open accounts at Indian banks, facilitating direct transactions between financial institutions without using the US dollar as an intermediary currency. By eliminating the need to convert to dollars, businesses can reduce foreign exchange costs and transaction fees, while also shortening processing times.
The system is expected to be implemented by major commercial banks in both countries, aiming to support Japanese businesses expanding into the Indian market and encourage private capital flows into infrastructure, manufacturing, and supply chains. The Japanese Ministry of Finance aims to sign a memorandum of cooperation with the Reserve Bank of India by the end of the 2026 fiscal year.
#halvingjobs #DeDollarization #BilateralTrade
Pakistan and Iran have agreed to strengthen agricultural trade and cooperation, focusing on livestock, food security, and farm products.
During a meeting in Islamabad, Iran expressed interest in importing meat from Pakistan, stating that Pakistan could potentially meet up to 60% of Iran’s meat import needs. Both countries also discussed expanding trade in rice and mangoes while removing barriers affecting commerce.
Officials agreed to implement existing agricultural commitments within two months and enhance coordination through the Pakistan-Iran Joint Working Committee on Agriculture. The initiative aims to benefit farmers, traders, and consumers in both nations.
#Pakistan #Iran #Agriculture #MeatExports #FoodSecurity #Livestock #TradeRelations #RiceExports #MangoExports #BilateralTrade #EconomicCooperation #AgricultureTrade
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During a meeting in Islamabad, Iran expressed interest in importing meat from Pakistan, stating that Pakistan could potentially meet up to 60% of Iran’s meat import needs. Both countries also discussed expanding trade in rice and mangoes while removing barriers affecting commerce.
Officials agreed to implement existing agricultural commitments within two months and enhance coordination through the Pakistan-Iran Joint Working Committee on Agriculture. The initiative aims to benefit farmers, traders, and consumers in both nations.
#Pakistan #Iran #Agriculture #MeatExports #FoodSecurity #Livestock #TradeRelations #RiceExports #MangoExports #BilateralTrade #EconomicCooperation #AgricultureTrade
$IREN
$FUEL
$TSLAB
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