World Weaning Away From The Dollar? India Purchases 1 Million Barrels Of Oil In Rupees, Not Dollars For First Time – De-Dollarization Trend Gains Momentum

In mid August, India made its first crude oil payment to the United Arab Emirates (UAE) in Indian rupees, marking a significant shift away from the dominance of the U.S. dollar in international trade. This move comes as part of a broader trend where a growing coalition of nations is seeking to conduct global trade in their local currencies. Indian Oil Corp (IOC.NS), India's leading petroleum refiner, initiated the payment in rupees for the purchase of one million barrels of oil from the UAE, spe

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