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Rupee fall may push govt to seek yuan trade settlement

The plan would enable direct convertibility between the rupee and yuan, and will help cut transaction and hedging costs. The proposal would allow Indian exports of pharmaceuticals, oilseeds and sugar to China to be settled in rupee, while keeping out trade in high volume products such as electronics.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2z9a9lJ
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