India’s campaign for rupee trade finds fans from Russia to UAE

Indian tea exporters are getting interest from the United Arab Emirates and sanctions-hit Russia and Iran to pay in rupees, a nod toward the government’s plan to settle international trade in the local currency. The RBI in July announced a plan to allow overseas trade to be settled in rupees. The move will make it easier for Indian companies to trade with countries facing difficulties invoicing in the US dollar.

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