Rupee is a long way from replacing the dollar

The end of dollar supremacy is not a far-fetched dream. As regional integrations grow stronger and discussions of using alternative regional currencies for settlements gain traction, the dominance of the dollar will gradually diminish and eventually be replaced. However, this transition will not occur in the immediate future, contrary to what some may want us to believe. Currently, the US dollar continues to hold many significant advantages in the global financial system, thanks to its status as a strong reserve currency, the petrodollar system, and other geopolitical factors. In a bold move aimed at promoting the internationalisation of the Indian…