Current Affairs · International Relations and Trade
Consider the following statements regarding India–Malaysia cooperation in trade settlement: Statement I: India's push for bilateral trade settlement in local currencies with Malaysia is aligned with its long-term objective of reducing external vulnerabilities arising from over-dependence on dominant reserve currencies in international trade. Statement II: The operationalisation of local currency trade settlement between countries is primarily achieved through preferential tariff concessions under Free Trade Agreements rather than through central banking and payment system arrangements. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.
- 2Statement I is correct, but Statement II is incorrect.✓
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is correct, but Statement II is incorrect.
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