Whalesbook
Dekho, duniya mein na, dollar ka hold dheere dheere kam ho raha hai. IMF data ke hisaab se, global reserves mein dollar ka share jo 64% (2017) tha, woh gir kar 56.7% (end of 2025) ho gaya hai. Wahi, dusri currencies aur gold ka hissa badh raha hai. Iske saath hi, SWIFT ke hold ko challenge karne ke liye China ka CIPS aur Russia ka SPFS jaise alternative payment systems bhi fail rahe hain. BRICS Pay toh abhi shuruat mein hi hai, jismein member countries ke beech mein regulatory aur technical hurdles chal rahe hain. Fir bhi, international payments mein SWIFT ka share December 2025 tak lagbhag 50.5% bana raha. China ka Renminbi bhi progress kar raha hai, September 2025 tak global payments mein uska share 3.17% tha, aur early 2026 tak China ke trade ka 30% RMB mein settle ho raha tha.
Ab India ki baat karein toh, Rupee ko global banane ke liye efforts chal rahe hain, jaise 156 special Vostro accounts 123 foreign banks se 30 countries mein khule hain. Lekin asal cross-border settlement mein abhi bhi badi dikkat aa rahi hai. Rupee mein billing aur settlement ke beech ka gap yeh batata hai ki practical utility aur trust abhi kam hai. Foreign traders aur investors ko Rupee ki exchange rate volatility aur partial convertibility se bhi concerns hain. Aur ek badi baat, global exports mein India ka share sirf 2% hai, jo Rupee ke international usage ko badhane mein limiting factor hai. Goal dollar ko replace karna nahi, balki multi-currency strategy ka hissa banna hai, jo ek measured, par challenging rasta hai.
Aage ka future global payment systems aur India ki strategic economic policies par depend karega. CIPS aur SPFS jaise platforms, aur CBDCs jaise Project mBridge, local currency settlements ke liye more efficient channels bana sakte hain. India ki success domestic reforms, exchange rate fluctuations ko manage karne, aur capital flows ko effectively handle karne par depend karegi.