This week India and the United Arab Emirates (UAE) closed their first deal ever without using the <a href="https://humanevents.com/2022/03/17/china-is-using-oil-to-de-dollarize-the-world-economy/">US dollar</a>. The deal was made in rupees, India's main <a href="https://humanevents.com/2014/09/22/the-return-of-king-dollar">currency</a>.&nbsp;&nbsp;<br>
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On Monday the two countries settled on an oil trade for India's top refinery made the payment in rupees for a million barrels of oil.&nbsp;&nbsp;<br>
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India’s top refinery made the payment in rupees for a million
barrels of oil.{ai:summary}<p>India and UAE make their first deal without using the US dollar, settling an oil trade in rupees. This comes as other countries discuss alternative reserve currencies. #economy</p>

India and UAE close first oil deal in rupees, not US dollar

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