1. Petro Dollar. Petro Yuan. Petro Rupee?
- Author:
- Amit Bhandari
- Publication Date:
- 08-2019
- Content Type:
- Working Paper
- Institution:
- Gateway House: Indian Council on Global Relations
- Abstract:
- Over the last two decades, every component of the global energy scenario has changed: demand, supply and energy-type. The only constant has been the U.S. Dollar as the currency of energy trade. Lately, the Chinese Yuan has emerged to challenge the Dollar. Can the Indian Rupee be a third player? India is now the world’s third-largest consumer and second-largest importer of energy. Its open market, transparent regulation and growing demand give it an opportunity to become the hub of a vibrant new oil market, simultaneously ensuring its energy security and raising the international profile of the Rupee. This paper explores the possibility the Rupee could be the third currency in which energy is traded, and the challenges and opportunities it presents.
- Topic:
- Security, Energy Policy, Markets, Oil, Currency, and Trade
- Political Geography:
- China, South Asia, India, Asia, North America, and United States of America