Internationalize the rupee while a BRICS currency loses traction | Prof. Vidya Mahambare writes for Live Mint

The article highlights that for a country’s currency to achieve world dominance, its economy must be large, open to free trade in goods and services, and also open to flows of foreign investment in and out. It must have a deep financial market and its banks should have a significant presence worldwide. The country should have low and stable inflation and a credible fiscal policy that supports confidence in the currency’s value.