Rupee-Dirham trade pact: What is this deal? | The India Story

India and the UAE have agreed to enable the use of the rupee and dirham in cross-border trade. This is a big step forward that could open the way for future bilateral currency accords, indicating the possible internationalisation of the Indian rupee. The decision mirrors a broader trend of emerging economies aiming to minimise their reliance on the US dollar, calling its dominance as the world’s default currency into doubt. To know more watch this interview with DG and CEO of the Federation of Indian Export Organisations, Ajay Sahai.

#india #uae #dedollarization

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