Dollar ditched; India, UAE to do business in their currencies

Abu Dhabi: In what may be called as a landmark move, India and UAE have agreed to ditch Dollar and do business in which currencies of both nations are equally accepted.

External Affairs Minister Sushma Swaraj was on a two-day visit to Abu Dhabi to attend the 12th session of the UAE-India Joint Commission Meeting held at Ministry’s headquarters with Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan.

The two countries have signed a bilateral trade deal worth nearly $50 billions which will be a huge boost to import and export trade between the two countries, Khaleej Times reports.

Both the leaders have agreed to boost cooperation in trade, security, defence and cooperatively combat extremism and terrorism in all its forms, regardless of the perpetrators and their intent.