India and Russia will have currency swaps in place to finance trade in rupees and rubles, bypassing the US sanctions regime against Russia, the president of India’s export association told CNBC Wednesday (March 23). India and Russia will have currency swaps in place to finance trade in rupees and rubles, bypassing the US sanctions regime against Russia, the president of India’s export association told CNBC Wednesday (March 23). Several of India’s state-owned banks will execute the swaps under the supervision of the Reserve Bank of India, starting as early as next week, according to A. Sakthivel, president of the ... (full story)