The RBI has not instructed banks to shift all dirham payments to this channel but instead is taking steps to encourage the development of an rupee-dirham market
Under the deal, the CBUAE and NBE will also collaborate on payment platform services and electronic switches
Dirham-rupiah trade is expected to reduce transactional costs for businesses while strengthening financial cooperation
India’s currency has weakened slightly against the UAE dirham in early trade, mainly off the back of dollar strength
The Emirati dirham was issued as the UAE’s official currency replacing a mix of international currencies which had been in circulation in the emirates
The inaugural issuance was 6.3 times oversubscribed
A total of 5,000 silver commemorative coins weighing 60 grams will be issued
A dirham yielded more than 20 rupees earlier this morning
The regulator denied reports that the country was studying the feasibility of continuing the peg between the dirham and the US dollar.