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UAE and India sign currency swap agreement

Reuters  |  ABU DHABI 

ABU DHABI (Reuters) - India and the United Arab Emirates on Tuesday signed a currency swap agreement in a further sign of advancing strategic cooperation between the two countries.The agreement will enable businesses from both countries to trade in each other's currencies without the dollar or other international currencies.Officials of the two central banks agreed the deal, which involves the Indian rupee and the UAE dirham, said a statement by the Indian embassy.The agreement was signed after the 12th India-UAE joint commission meeting co-chaired by India's External Affairs minister, Sushma ...

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First Published: Tue, December 04 2018. 20:27 IST