Read more about Merchants almost halt exports to Iran as its rupee reserves fall: Report on Business Standard. Iran s rupee reserves in India s UCO and IDBI Bank, the two lenders authorised to facilitate rupee trade, have depleted significantly
Exclusive: India merchants almost halt exports to Iran as its rupee reserves fall - officials reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Indian merchants almost halt exports to Iran as its rupee reserves fall: Officials
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Last Updated: Mar 04, 2021, 06:32 PM IST
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Synopsis
India s overall exports to Tehran fell 42% in 2020 from a year ago to $2.2 billion, the lowest in over a decade, said an official with India s Ministry of Commerce and Industry.
Agencies
MUMBAI/ DUBAI: Indian merchants have almost entirely stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran s dwindling rupee reserves with Indian banks, six industry officials told Reuters. Exporters are avoiding dealing with Iran since payments are getting delayed for months, said a Mumbai-based dealer with a global trading house.
India merchants almost halt exports to Iran as its rupee reserves fall arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Tribune News Service
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