General Studies · Statement and Inferences
Based on the statement provided, determine which of the inferences can be logically drawn. Statement: The Reserve Bank of India (RBI) and the Bank of Indonesia (BI) signed a Memorandum of Understanding (MoU) to establish a framework promoting the use of local currencies for cross-border transactions. The MoU covers all current account transactions, permissible capital account transactions, and any other agreed-upon economic and financial transactions. Inferences: I. This framework enables exporters and importers to invoice and pay in their respective domestic currencies. II. The use of local currencies in bilateral transactions will eventually decrease trade volume between India and Indonesia. III. The use of local currencies will optimize costs and settlement time for cross-border transactions.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only I follows
- 2Only III follows
- 3Only II follows
- 4Only I and III follow✓
Correct answer
Only I and III follow
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