India’s Largest Cement Maker “Circumventing The Dollar” In Russian-Coal-For-Yuan Deal (Zero Hedge)

• “This move is significant. I have never heard any Indian entity paying in yuan for international trade in the last 25 years of my career. This is basically circumventing the USD (U.S. dollar),” a Singapore-based currency trader said.
• “If the rupee-yuan-rouble route turns out to be favourable, the businesses have every reason and incentive to switch over. This is likely to happen more,” said Subash Chandra Garg, a former economic affairs secretary at India’s finance ministry. READ MORE

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