Is E Rupee the Next Big Thing in the Indian Economy?
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The world of finance is constantly evolving, and India is at the forefront of a major shift in global currency dynamics. And with the introduction of the eRupee or Digital Rupee has led to a growing discussion around the potential rise of the Indian rupee as the strongest currency in the world
We will begin the discussion by taking a look at the history of the rupee to exploring how Unified Payment Interface (UPI) was a major turning point for the Indian financial system, allowing seamless digital transactions for millions of users across the country.
Cut to the 2022 budget, India's Finance Minister Nirmala Sitharaman announced the launch of a Central Bank Digital Currency (CBDC), also known as the Digital Rupee. The digital rupee is different from UPI in that it's a fully digital version of the Indian currency, allowing for faster and more secure transactions.
In this video, we'll dive deep into the intricacies of the eRupee, which has the potential to catalyze international payments using the rupee as the base currency. Brace yourself for a captivating discussion on how the rupee may reign supreme over other currencies globally.
00:00 India's Rupee: World's Strongest Currency?
01:57 The Story of the Rupee Throughout History
03:58 Inception of UPI: The Unified Payment Interface
04:36 ISpirit: Revolutionizing India's Future
05:42 Not Everyone Gets It: LearnApp Prime - A Free Trading and Investing Experience
06:54 CBDC Announced by FM Nirmala Sitharaman
08:08 Enabling International Payments through a VOSTRO Account
09:30 Is the Indian Rupee Poised to be Accepted as Currency by Other Countries?
11:55 What Makes the US Dollar the Most Dominant Currency in the World?
14:00 Understanding De-dollarization: The Shift Away from the US Dollar
14:24 Change in the perspective of IMF and Institutional Investors
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