Cover with black border Courtesy: Gateway House
29 August 2019

Petro Dollar. Petro Yuan. Petro Rupee?

The global energy scenario has changed in every way – be it in demand, supply or energy type – in the last two decades. The only unchanged component has been the currency of energy trade: the U.S. Dollar. Lately, though, the Chinese Yuan has emerged as a challenger. Can the Indian Rupee be a third contender?

shutterstock_1042231621 Courtesy: Shutterstock
1 August 2019

A case for the petro rupee

India can catalyse trading in oil on its domestic exchanges, and thereby adjust global oil prices so they reflect the changing patterns of global trade. In the process, this can help Indian companies and government reduce the risks arising from high energy prices. And in the long run, it can give India a more central position in the global financial system