The Indian government's reluctance to allow state-controlled refiners to pay for Russian oil imports with Chinese currency has caused delay...

The Reserve Bank of India (RBI) will soon issue guidelines for banks for the resolution of certain issues being faced by exporters while un...

While many businesses - driven by commercial convenience, balance of payments, and terms of global reinsurers - often prefer to deal in har...

Bilateral non-oil trade between India and the United Arab Emirates (UAE) reached $50.5bn in the first 12 months of the countries' Comprehen...

Lavrov said, “As for the rupee, this is a problem. We have accumulated billions of rupees in accounts in Indian banks. We need to use this ...

INDIA-RUSSIA-Exclusive-India, Russia suspend This would be a major setback for Indian importers of cheap oil and coal from Russia who were ...

Some Indian refiners were paying in the United Arab Emirates dirham currency for Russian low-sulphur crude priced above the $60 a barrel ca...

HPCL, which has used 2 million tonnes of Russian crude of the total 17 million tonnes processed this fiscal year, is shifting to the curren...

Hindustan Petroleum Corp (HPCL) is increasingly switching from dollar to dirham and rouble to pay for Russian oil to avoid trouble arising ...

The gap between India & Russia's exports and imports is rising and that’s making the local currency payment mechanism futile. No payment ha...

Buyers have shifted some transactions to the currency, according to people with direct knowledge of the matter. Payments vary from cargo to...

Tajikistan, Cuba, Luxembourg and Sudan have begun talking to India about using the mechanism, according to two sources and an official docu...

Indian refiners continue to pay in dollars using regular banking channels for the oil they buy from Russia, executives and officials said, ...

Russia has been hit by sanctions from the United States and allies following its invasion of Ukraine, and Moscow has requested some buyers ...

Cargo movements and associated trade payments are being routed through outfits and banks in Dubai in transactions that come across like reg...

Indian students studying in UAE universities were badly hit since rupee's fall, forcing some institutes to slash their tuition fees by 25%.

India and Iran will look at other currencies as settlement in dollar has become difficult due to sanctions imposed against Iran.