The energy minister said the companies would be chosen on the basis of their ability to operate without seeking any foreign exchange in their central bank, which is nearly run out of foreign currency reserves.
Mr. Prasad said that even the prospect of " mercurial and hostile policies" like these could encourage countries to reduce their dependence on the dollar for trade payments and for holding foreign exchange reserves.
China's stock and foreign exchange markets reacted positively to the policy release, with the benchmark Shanghai Composite Index jumping 4.15 percent to Tuesday's close at 2,863.13 points, the biggest rise in about four years.
Early on, he traded mostly in government bonds and foreign exchange, but as the 1860s went on, he began leveraging his international contacts to connect old European money with new American industrialists.
In 2013, migrants around the world sent $400 billion back to their home countries.That is much more than official aid to many countries. For some nations, it is the biggest provider of foreign exchange.
" Russia is in (the) top 10 countries with the lowest public debt and greatest foreign exchange reserves. And, that really provides for the resilience of our financial system, " he said.
Data from the Central Bank shows that foreign exchange reserves fell nearly 23 billion US dollars from the August level reaching just over three trillion dollars.
Then ten days ago, South Africa announced it was barring Mozambique's sixty-three thousand workers from South Africa, thus cutting off Mozambique's main supply of foreign exchange.