Friday, 7 December 2018

#PetroRupee! - India signs currency swap agreement worth Rs 3,500 crores with UAE.

Source - PMOIndia


India and the United Arab Emirates have signed two agreements, including one on currency swap, during the visit of the External Affairs Minister Sushma Swaraj to Abu Dhabi. The decision was announced after the 12th session of the India-UAE Joint Commission Meeting (JCM) for Economic and Technical Cooperation, which was held on 3-4 December in Abu Dhabi.

The countries signed an agreement on a currency swap between the Reserve Bank of India and the Central Bank of the UAE. According to the agreement, two countries can make payments in their national currencies — Indian rupees and Emirati dirhams (AED), avoiding the involvement of a third currency, which is designed to boost bilateral trade.

Currency Swap is such a pact between two countries that allows trading in their own currency and payments to import and export trade at pre-determined exchange rate without bringing in a third benchmark currency like the US dollars.

Sushma Swaraj and Indian officials also had exhaustive discussions with her UAE counterpart Abdullah bin Zayed to step up bilateral cooperation in areas like security, defence, counter-terrorism, trade and energy.

Earlier, India and Japan had signed a currency swap agreement of whopping $75 billion dollars which would help both the economies to trade in respective local currencies. After fear of US sanctions, India is in talks with Iran to deal in local currencies. Currency swap agreements would help both producer and consumer economies to deal in local currencies instead of volatile US dollars.

- Chaitanya Kulkarni.

33 comments:

  1. You may find that cryptocurrency is for you or you may not however in any event you'll have the option to talk with a level of conviction and information that others won't have. Getnode Test

    ReplyDelete
  2. After enlistment is finished, simply sign in and enter your pursuit. There are a few connections which will reveal to India visa holders about trains running between two stations, about the time, the classes they offer, accessibility and tolls. indian visa application

    ReplyDelete
  3. Disposes of extortion hazard - Just the Bitcoin proprietor can send installment to the expected beneficiary, who is the one in particular who can get it. escrow platform

    ReplyDelete
  4. How to obtain an India Online Visa? What are the limitations of India Online Visa? indian visa online

    ReplyDelete
  5. I am not sure where you’re getting your info, but good topic. I needs to spend some time learning more or understanding more. Thanks for wonderful information I was looking for this info for my mission.
    online situs for free

    ReplyDelete
  6. Such a very useful article. Very interesting to read this article.I would like to thank you for the efforts you had made for writing this awesome article.India crypto

    ReplyDelete
  7. Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article. indian visa

    ReplyDelete
  8. Once used, the transaction statistics is broadcasted to a blockchain inside the community under a public-key, preventing every coin from being spent two times from the identical person.How to trade forex and cryptocurrency

    ReplyDelete
  9. This comment has been removed by the author.

    ReplyDelete
  10. Nobody can reject the info you have given in the blogs, this is actually a great work.
    bitcoin blueprint login

    ReplyDelete
  11. All together for your site to appear, you should set your nameservers to highlight those specific nameservers. seonocurenopay.com

    ReplyDelete
  12. You create sense out of the foremost complex topics.
    bitcoin era print

    ReplyDelete
  13. Admiring the time and effort you put into your blog and detailed information you offer!.. OrbitEx

    ReplyDelete
  14. Obviously, motivations and their level of the agreement would be absolutely relative relying upon the mission. Webdesign

    ReplyDelete
  15. This is such a great resource that you are providing and you give it away for free. testbank

    ReplyDelete
  16. Here are a few highlights that can truly deface the over all idea of your web design.SEO Antwerpen

    ReplyDelete
  17. Nice post. I was checking constantly this blog and I’m impressed! Extremely useful info specially the last part I care for such information a lot. I was seeking this certain info for a long time. Thank you and good luck. 먹튀검증

    ReplyDelete
  18. Hi there! Nice stuff, do keep me posted when you post again something like this! 먹튀검증

    ReplyDelete
  19. Pretty good post. I have just stumbled upon your blog and enjoyed reading your blog posts very much. I am looking for new posts to get more precious info. Big thanks for the useful info. source

    ReplyDelete
  20. This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... 먹튀검증

    ReplyDelete
  21. The content is utmost interesting! I have completely enjoyed reading your points and have come to the conclusion that you are right about many of them. You are great, and your efforts are outstanding! 토토커뮤니티

    ReplyDelete
  22. nice post, keep up with this interesting work. It really is good to know that this topic is being covered also on this web site so cheers for taking time to discuss this! 안전놀이터

    ReplyDelete
  23. nice bLog! its interesting. thank you for sharing.... 먹튀검증

    ReplyDelete
  24. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often. 대전1인샵

    ReplyDelete
  25. Thankyou for this wondrous post, I am glad I observed this website on yahoo. test bank nursing

    ReplyDelete
  26. An fascinating discussion is value comment. I think that it is best to write extra on this matter, it won’t be a taboo topic however generally people are not enough to talk on such topics. To the next. Cheers 먹튀검증

    ReplyDelete
  27. Very useful post. This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. Really its great article. Keep it up. 먹튀검증

    ReplyDelete
  28. Superbly written article, if only all bloggers offered the same content as you, the internet would be a far better place.. 온라인바둑이

    ReplyDelete
  29. i really like this article please keep it up. 먹튀검증

    ReplyDelete
  30. Wow, this is fascinating reading. I am glad I found this and got to read it. Great job on this content. I liked it a lot. Thanks for the great and unique info. 토토커뮤니티

    ReplyDelete
  31. Hey There. I found your blog using msn. This is a very well written article. I’ll be sure to bookmark it and come back to read more of your useful info. Thanks for the post. I’ll definitely return. 토토커뮤니티

    ReplyDelete
  32. I am regular visitor, how are you everybody?
    This article posted at this website is in fact good
    I 안전놀이터

    ReplyDelete