Govt advises banks traders to avoid Chinese Yuan in foreign trade settlements Report

Representational image
Image Source : PTI Representational image

Banks and traders in India have been asked to avoid payment settlements for Russian imports in the Chinese yuan till the time ties between India and China improve.

According to a Reuters report, officials in India have advised banks, traders to avoid using yuan, however, the settlements in the United Arab Emirates dirhams would be okay.

India and China ties worsened significantly after the Galwan clash at the Line of Actual Control (LAC). It was after a series of commander-level talks that the disengagement of troops had taken place, however, ties between both countries are yet to improve. 

ALSO READ Rahul Gandhi is biggest liar, his accusations are childish: Union Minister Giriraj Singh | EXCLUSIVE

ALSO READ Russian President Putin likely to attend G20 summit in Delhi I DETAILS

Latest Business News

Source link

Leave a Reply