India has reached an agreement with the United Arab Emirates to trade in Indian rupees instead of US dollars. According to the agreement, the Indian government will also have reason to cut transaction costs.
This agreement was reached after the visit of Indian Prime Minister Narendra Modi to the United Arab Emirates after his visit to France. The Indian Prime Minister received a warm welcome from the Crown Prince of Abu Dhabi, Sheikh Khalid Mohammed bin Zayed Al Nahyan. (Reuters)
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