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India to buy Iranian oil in rupees: Here's how the agreement will work

Updated : December 07, 2018 02:36 PM IST

The agreement of buying oil in rupees will help strengthen the rupee as India will not need US dollars to import the oil.
India, according to Reuters, has given the responsibility to UCO Bank to route the payment as it has no exposure to the US financial system.
India to buy Iranian oil in rupees: Here's how the agreement will work

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