13-April-2021
Economy News
 
Indian merchants almost halt exports to Iran as its rupee reserves fall: Officials
05-Mar-2021

Indian merchants have almost entirely stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran's dwindling rupee reserves with Indian banks, six industry officials told Reuters. "Exporters are avoiding dealing with Iran since payments are getting delayed for months," said a Mumbai-based dealer with a global trading house.

News Source:- https://economictimes.indiatimes.com/news/economy/foreign-trade/india-merchants-almost-halt-exports-to-iran-as-its-rupee-reserves-fall-officials/articleshow/81331917.cms?utm_source=ETTopNews&utm_medium=HP&utm_campaign=TN&utm_content=23