Business

India, UAE officially begin trade in local currency

ABU DHABI: India and the United Arab Emirates have officially started trading with each other in local currency.

According to the Indian embassy in the UAE, Indian Oil Corporation has purchased one million barrels of oil from Abu Dhabi National Company and the payment was made in Indian rupees.

Earlier, an Emirati businessman sold 25kg of gold to an Indian buyer for Rs12.84 crore.

Web Desk

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