India using rupees to pay for gold imports from UAE: Govt so

The rupee settlement of trade between India and the UAE assumes significance, given that the two countries signed an MoU in July 2023 to set up a framework to use their respective local currencies to settle bilateral transactions.

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United Arab Emirates , India , , Economic Partnership Agreement , Special Rupee Vostro , Reserve Bank , Local Currency Settlement System , Director General , Foreign Trade Santosh Sarangi , Advance Authorisation Scheme , Comprehensive Economic Partnership Agreement , Ae , Gold , Rupee Trade , Fbi , Fin Min , Crude Oil ,