India Explores Cross-Border Use of Digital Rupee to Enhance Global Trade

India is actively exploring the cross-border application of its digital currency, the e-rupee, to reduce payment costs, improve trade settlement efficiency, and expand the global influence of the rupee. According to Foresight News, the e-rupee, issued by the Reserve Bank of India, enables direct and final settlements without relying on multiple intermediaries in international payments. India has proposed linking the e-rupee with central bank digital currencies (CBDCs) from other countries, particularly BRICS nations, to streamline cross-border trade, remittances, and tourism settlements. This initiative aims to address the high costs and slow speeds associated with traditional international payments and is seen as a regulated alternative to mitigate the monetary and systemic risks posed by private stablecoins.