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India and Bangladesh Are Gradually Abandoning US Dollar in Their Bilateral Trade

iconApr 25, 2023 10:00
Source:财联社
India and Bangladesh are moving away from US dollar in their bilateral trade in favour of their own currencies, a move welcomed by the business communities of both countries, RT reported Tuesday.

India and Bangladesh are moving away from US dollar in their bilateral trade in favour of their own currencies, a move welcomed by the business communities of both countries, RT reported Tuesday. India and Bangladesh have reached an agreement that some trade will be conducted in both countries' national currencies, the rupee and the taka, a move the two countries have been discussing for several months, RT News reported, citing Bangladeshi outlet Business Standard. Bangladesh's exports to India are expected to switch entirely to rupee and taka transactions, while Indian exports to Bangladesh worth about $2 billion will be traded in rupees and the remainder in dollars.

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