Globalisation of Indian Rupee in the New World Economic Order

R, Pazhanisamy and Sri, Thomas Mathew (2024): Globalisation of Indian Rupee in the New World Economic Order.

Abstract

The global economy has witnessed significant transformations in recent decades, marked by the emergence of new economic powers and the evolution of financial systems. Within this context, the globalization of currencies has become a crucial aspect of international economic dynamics. This paper explores the globalization of the Indian Rupee within the framework of the new world economic order. It examines the factors driving the globalization of the rupee, including economic liberalization, financial market reforms, and India's growing integration into the global economy. Furthermore, the paper analyzes the implications of the Rupee's globalization for India's economy, financial markets, and monetary policy. By examining the possibilities of appreciation of Indian rupee and opportunities associated with the globalization of the Rupee, this paper aims to contribute to a better understanding of India's role in the evolving global economic landscape and its implications for domestic and international trade.

• Item Type: MPRA Paper
• Language: English
• Keywords: Money demand, currency in circulation, payment systems, monetary policy Foreign Exchange, International Policy, Globalization, Indian Rupee, New World Economic Order, Internationalization, Monetary Policy, Economic Integration.
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E47 - Forecasting and Simulation: Models and Applications; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy; F - International Economics > F3 - International Finance; F - International Economics > F3 - International Finance > F31 - Foreign Exchange; F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance; G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation

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