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Wednesday, May 16, 2012

''New Rial-Rupee mechanism to settle India-Iran payment issues''

From the Economic Times

''India today said a new rial- -rupee payment arrangement has been put in place for bilateral trade with Iran.

The problem with Iran began after the Reserve Bank of India, in December 2010, withdrew the Asian Clearing Union (ACU) mechanism under which payments were made to Iran.''


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