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
The BRICS nations are coming of age. At its annual summit in Johannesburg last week, the bloc of five emerging countries—Brazil, Russia, India, China and South Africa—announced plans to expand for the first time since 2010. On January 1, 2024, the BRICS will welcome six new members: Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and the [.]
Bank Indonesia, Bank Negara Malaysia, Bank Of Thailand To Support Use Of Local Currencies crowdfundinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crowdfundinsider.com Daily Mail and Mail on Sunday newspapers.