India Seeks to Agree Rupee-Dirham Trade Payment Plan in January

Representatives of India’s central bank and foreign ministry didn’t respond to requests for comment outside of local business hours Tuesday, while the finance ministry couldn’t be reached for comment. The central banks of India and the United Arab Emirates are discussing a mechanism to facilitate rupee-dirham trade to lower the cost of transactions, India’s ambassador to the UAE, Sunjay Sudhir, had said last month. The UAE central bank, foreign ministry and government media office didn’t respond to requests for comment.