Bangladesh becomes 19th country to trade with India in rupees

Dhaka: Bangladesh has become the 19th nation to settle bi-lateral trade with India in Indian rupees. Both the countries were in talks for months to give up dollar and use their local currencies for clearing transactions. To initiate settling cross-border trade with India, two of the Bangladesh's banks — Sonali Bank and Eastern Bank Limited (EBL) — will open vostro accounts in two Indian lenders — State Bank of India (SBI) and ICICI Bank. Similar accounts will be opened by these two Indian banks in the two Bangladeshi banks. The transaction between the two countries will take place in taka-rupees…