India’s government wants to settle trade payments with Iraq in Indian Rupee’s to help stabilize its currency

Posted by on Oct 27, 2013 | Leave a Comment

said Indian Commerce Minister that the Indian government would discuss with Iraq, the possibility of settling trade payments in Indian Rupees step will help to stabilize the troubled currency.

Said Anand Sharma, Minister of Commerce, told reporters in response to a question whether India was considering rupee payment for Iraq, “Yes. We will discuss how to use Amltena المحليتين.”

The Indian currency has lost 17 percent of its value since May and lead the decline in emerging markets currencies amid fears of rising borrowing costs and a shortage in supply of cheap money from the United States.

The visit of Prime Minister Nuri al-Maliki, India to finalize an agreement to sell more oil to New Delhi.

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