"Russia and India Almost Reach 100% in National-Currency Calculations - Siluanov"

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Russia and India almost completely conduct mutual settlements in national currencies, Finance Minister Anton Siluanov told TASS.

"We see an increase in trade volumes between our countries, investment volumes, and the number of trips our people make to each other. We see an annual increase almost twice or more in the volumes of international settlements between our countries. And these settlements are almost 100% conducted in national currencies. This is great!", Siluanov clarified.

He added that the opening of bank offices will speed up mutual settlements, which will positively affect economic cooperation between the two states.

• Earlier it was reported that the Central Bank opened a representative office in Mumbai - the financial capital of India. The regulator noted that this will help strengthen and promote the interests of the Russian financial sector on one of the key international directions.