MOSCOW, February 8. /TASS/. Accumulation of Indian rupees by Russian companies creates no problems, Deputy Foreign Minister Andrey Rudenko told TASS in an interview, adding that it widens financial possibilities as this currency is a reliable instrument for holding and investing funds.

"Accumulation of rupees does not create any problems for domestic economic entities, on the contrary, it seriously expands their financial possibilities. This currency is stable, it is a reliable instrument for holding and growing capital, being increasingly used for international payments, being convenient to be invested in the economy of India and its regional trade partners. And what is equally important, unlike the dollar and euro their exchange rate is stable and is not subject to speculative manipulations," he said.

"The issue of expanding the range of investing Russian companies’ revenues in rupees is being actively discussed through the two countries’ economic agencies," the official noted, adding that "quite interesting prospects are opening."

Russian Foreign Minister Sergey Lavrov said earlier that Russian and Indian relevant agencies and governments are negotiating the possibility of mutually beneficial investment of Russian exporters’ rupees hoarded in Indian banks.