The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled ‘A review of the rupee trade’ is authored by Dr. Jayashekar and published in 1983. The author throws light on why reviewing the rupee trade is imperative. He further explores the dimensions of the rupee trade. He explains the importance of Soviet Union in the Indian rupee trade and highlights its dependence and stability. He further evaluates the arguments put forth in support and against Rupee Payment Arrangement. He underlines the problems like secrecy surrounding it, criteria to evaluate India’s gains from rupee trade, adverse terms of trade, and its limitations. He suggests to overcome limitations by converting trade surplus into convertible currency, speedy diversification of exports, and making data available for independent scholars to evaluate.