Looks like India, China, Russia and others are moving away from the greenback
Gold is looking real good
Bye-bye dollar: India & UAE agree to trade in local currencies
Published time: 9 Dec, 2018 06:32
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A general view shows Dubai's cityscape © Reuters / Ahmed Jadallah
New Delhi and Abu Dhabi have inked a currency swap agreement to boost trade and investment without involvement of a third currency like the US dollar.
The swap is for an amount of two billion UAE dirham or 35 billion Indian rupees (US$495 million), according to the Indian Embassy in Abu Dhabi.
“The bilateral currency swap agreement between India and UAE is expected to reduce the dependency on hard currencies like the US dollar,” the embassy said.
https://www.rt.com/business/445987-...e6gB_mGhugC3NDIkmoD_hK53src2yLP5Y3F_rkiKQeMQY
