First rupee payment for oil to UAE: India looks for more deals, no targets: Officials

Officials said the default payment currency for import of crude oil has been the US dollar for several decades and the currency traditionally has liquidity as well as lower hedging cost.

First rupee payment for oil to UAE: India looks for more deals, no targets: Officials
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Officials said the default payment currency for import of crude oil has been the US dollar for several decades and the currency traditionally has liquidity as well as lower hedging cost.