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Bye-Bye Dollar

Bye-Bye Dollar

Publicerat av Tony Harkén tisdag, 08 oktober 2019.

India & UAE agree to trade in local currencies.

New Delhi and Abu Dhabi have inked a currency swap agreement to boost trade and investment without involvement of a third currency like the US dollar.

The swap is for an amount of two billion UAE dirham or 35 billion Indian rupees (US$495 million), according to the Indian Embassy in Abu Dhabi.

“The bilateral currency swap agreement between India and UAE is expected to reduce the dependency on hard currencies like the US dollar,” the embassy said.

Read more at - Bye-Bye Dollar

Publicerat av

Tony Harkén

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