NEW DELHI: India is looking to work out a mechanism to hedge exchange rate risks in the proposed rupee-based trade with the United Arab Emirates to limit losses for exporters, an India official told reporters on Thursday.
India and the UAE representatives are likely to meet in May to review the progress on their Comprehensive Economic Partnership Agreement and discuss settling payments for trade in rupees, which is yet to take off, the official said, asking not to be identified before a final decision is taken.
