Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ - Foreign Affairs (2)

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Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ - Foreign Affairs (2) - Nairaland

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Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Easylife1234: 8:30am On Aug 27, 2023

Hmmm

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by wittywriter: 8:31am On Aug 27, 2023

LikeAking:
Change is constant.

AllenSpencer:
🤣🤣🤣🤣🤣

Russia did same and we all know where the Ruble at now!

It’s just a matter of time!

India should dump the dollar as their reserve currency and I will take them serious. 🤣🤣🤣🤣

Exactly
This method of transaction isn't supposed to be overrated...afterall pounds sterling isn't much used for transactions yet it's still higher in value.

Majesty7:

India buys a million barrels oil with Rupee. Then that means what? If UAE are willing to accept it, then so be it. Let Indians foreign reserves also be in Rupee. Do you call it hatred or just lack of common sense that's affecting most tabloids? India buying oil in Rupee, does that stops others from using USD? India is just too small for all this. Develop your economy first and boost your local production before this senseless fight. Who cares if they buys in Riyadh?

Wittyness

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by nedekid: 8:32am On Aug 27, 2023

cenaman:
Which country will accept naira?

Countries you have bilateral trade with eg China we export oil, timber etc to. They also export finished products to us. China will have naira reserves while we will hold yuan. We do not need to change our money to dollar before buying things on eg aliexpress.
This was proposed about 6 years ago, but in the usual naija way, nothing was done about it. There is no reason I want to buy something from Ghana, I will the change my money to dollar first.
It will even help the naira improve against the dollar as there will be less demand for the green back.
We can see the usuall naija shenanigans, we did not apply to join BRICS. Others have joined.

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by itsene: 8:34am On Aug 27, 2023

Let us face our own economic issues here and stop sponsoring other countries ' s stories.

1 Like

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Blake755: 8:35am On Aug 27, 2023

cenaman:
Which country will accept naira?

That was why Gaddafi proposed one African currency and the killed him

2 Likes 1 Share

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Majesty7: 8:36am On Aug 27, 2023

AImiron:

Source

India buys a million barrels oil with Rupee. Then that means what? If UAE are willing to accept it, then so be it. Let Indians foreign reserves also be in Rupee. Do you call it hatred or just lack of common sense that's affecting most tabloids? India buying oil in Rupee, does that stops others from using USD? India is just too small for all this. Develop your economy first and boost your local production before this senseless fight. Who cares if they buys in Riyadh?

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by teebillz: 8:37am On Aug 27, 2023

cenaman:
Which country will accept naira?

Any country that buys oil from Nigeria can accept the Naira because they could use it to pay for the oil they import from Nigeria.

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by nijanigga: 8:37am On Aug 27, 2023

jaxxy:
UAE doesn't use rupees and don't need it unless it can be changed to dollars.

you see say even the news contains dollar equivalence but our people wey no dey wan buy good brain don dey rejoice like say them win lotto.who wan trade in naira? naira wey dey depreciate like crazy.

5 Likes 1 Share

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by DonMarkuzi(m): 8:38am On Aug 27, 2023

jaxxy:
UAE doesn't use rupees and don't need it unless it can be changed to dollars.

Can you Google the percentage of indians living in UAE for a start?

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by nijanigga: 8:39am On Aug 27, 2023

YouEssay:
1stgenamerican are you paying attention?
Gringolandia is doomed.
Western degenerates stand no chance.

#AllEyesOnBrics 👀👀👀

them deny you visa?

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by mignone(f): 8:39am On Aug 27, 2023

sharone21:

Maybe we should start with embassies in our country and create alliances with African countries plus others across the globe that we will need things from. This will create jobs in both countries for money exchangers dealing in those currencies.

PS: Don't know if there is a Minister for Industries as we need his impact a lot at this critical time.

Ma'am, all d above u mentioned & more can only be considered by leaders who are sincerely ready to do d right things in order to turn this country around for good.
See these ones, I doubt!

1 Like

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Majesty7: 8:40am On Aug 27, 2023

nedekid:

Countries you have bilateral trade with eg China we export oil, timber etc to. They also export finished products to us. China will have naira reserves while we will hold yuan. We do not need to change our money to dollar before buying things on eg aliexpress.
This was proposed about 6 years ago, but in the usual naija way, nothing was done about it. There is no reason I want to buy something from Ghana, I will the change my money to dollar first.
It will even help the naira improve against the dollar as there will be less demand for the green back.
We can see the usuall naija shenanigans, we did not apply to join BRICS. Others have joined.

Funny. And you thought you will develop if they kept sending finished goods to you while you send raw materials to them? And you might be one of the people clamouring for good governance

Do you think your country will grow? Do you think there will be jobs in your country? That is a modern slavery.

You guys need to start thinking and not just talking.

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by nijanigga: 8:41am On Aug 27, 2023

DonMarkuzi:

Can you Google the percentage of indians living in UAE for a start?

so indians in uae will start spending ruppes in uae??

1 Like

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by oilyngbati(m): 8:41am On Aug 27, 2023

cenaman:
Which country will accept naira?

Many countries would accept the Naira if we insist on selling our oil and other commodities in Naira.
We can start with our neighbouring African countries by giving them the option of either pay us in Naira or dollar. We can achieve this by first getting our refineries working and refining our crude oil. We can then export the petrol, diesel and other byproducts to these countries and give them the option of Naira or $….believe me, most would choose to pay us in Naira, this in turn would help strengthen the Naira.
The first step is getting the refinery to work, so we don’t go looking for dollars to import fuel, rather we export the refined products.

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Odumegwu444: 8:49am On Aug 27, 2023

From 1972 till date, the World (East Block) has been crying of dedollarisation, the dollar keeps waxing stronger, coz it was backed by the most liquid market in the World, the NYSE.
American information technology and energy breakthrough would soon render crude oil an alternative source of Energy in the next 10 to 15 years.
Watch out, May God keep us till then.

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by SouthSouth1914: 8:50am On Aug 27, 2023

Eriokanmi:
Wise people. Indian currency is still way higher in value than the NGN. Maybe one day, cefa too will be used by African countries to purchase petroleum products as cefa has now become more valuable than the naira. Our leaders are so wicked. They keep deceiving their gullible followers that our naira has become so worthless because we mainly import, as if we've never been an import-dependent nation when obj, yaradua and Jonathan were in government yet, our naira was so strong.

Everyone go wise up one day when they're tired of being deceived.

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Blitzking: 8:52am On Aug 27, 2023

AImiron:

Source

I would rather go for crypto than go for any other nations currency..if the world leaves the US dollar I see btc getting to btwn 100k to 1 million dollars

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by gexamar: 8:53am On Aug 27, 2023

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Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Mummyimbecile(m): 8:53am On Aug 27, 2023

ecolime:
Good one. I've always supported trading in local currencies.

Nevertheless, it won't still scratch the value of the dollar. The US exports more than they import so na the balance of payment be the koko.

There is a reason why Pounds sterling GBP is strong like a rock despite not being used as the major world settlement currency like the USD.

As long as the US stay ahead of others in innovations, technologies, etc. they have nothing to worry.

A country that owns and hosts Apple, Microsoft, Oracle, Boeing, GE, Tesla, etc and you think their currency will fall yakata?

Just dey play

good analysis! And also, the US dollar is a stable currency.

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Bluntemperor: 8:53am On Aug 27, 2023

jaxxy:
UAE doesn't use rupees and don't need it.

Why American Dollars will Stay:
Don't mind the them- all these terrible other Countries! They just they parambulate on what to do- even the OP( the Writers in Nigeria and African) at large!
So,if Rupees for India and the Russia used their own,so who no want used their Currencies- is that not Selfishness? Is that not how the Chinese stole majority of the Western Secrets and now don't want other Countries/ her Citizens to Marry any Chinese because of fear that they will leak Chinese Secret abroad? You can see how Selfish the Authoritarian Leaders are!
-The Dictators Countries - China and Russia can't never allowed themselves their Currencies usage Worldwide because they don't understand that Democracy is still the best form of govt!
-Democratic Institutions all over America and Europe is continuously being improved upon,unlike like rules of thumbs by the Communists where everything starts and ends with one Man! See how Britain allowed Hong Kong to go but see how the Chinese have messed up the Country- no choice,no respect for Rules and No Freedom for humans!
That is Trump-mischievous emblem of a Republican State and if Americans have not been very vigilant and guide their Democracy Jealously, International Insurrectionist like Mr Trump would have ruined their Kingdom,as some see American as too arrogant but still love them same time!

3 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Alpharey: 8:53am On Aug 27, 2023

AntiChristian:
Let's all dump dollars!

And start using cowries. 😀😀

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by nedekid: 8:56am On Aug 27, 2023

Majesty7:

Funny. And you thought you will develop if they kept sending finished goods to you while you send raw materials to them? And you might be one of the people clamouring for good governance Do you think your country will grow? Do you think there will be jobs in your country? That is a modern slavery.

You guys need to start thinking and not just talking.

Oga, the topic here is is trade without the dollar but local currencies.
All you said is irrelevant to the discussion.

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Lexusgs430: 8:57am On Aug 27, 2023

$ is the trust currency of the world ....... it's been so, for many years......

BRICS got lot of years to buy and build another trust currency.........

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Winters23: 8:59am On Aug 27, 2023

ecolime:
Good one. I've always supported trading in local currencies.

Nevertheless, it won't still scratch the value of the dollar. The US exports more than they import so na the balance of payment be the koko.

There is a reason why Pounds sterling GBP is strong like a rock despite not being used as the major world settlement currency like the USD.

As long as the US stay ahead of others in innovations, technologies, etc. they have nothing to worry.

A country that owns and hosts Apple, Microsoft, Oracle, Boeing, GE, Tesla, etc and you think their currency will fall yakata?

Just dey play

China is ahead of usa in most of these things you idolise yet they don't make noise about it

4 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Bizibi(m): 9:00am On Aug 27, 2023

No wonder the price of gold has gone up.

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by uuzba(m): 9:03am On Aug 27, 2023

cenaman:
Which country will accept naira?

Niger

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by saysoo: 9:03am On Aug 27, 2023

AImiron:

Source

This is rubbish. So the indians in Nigeria will start earning in naira and when leaving the country they will carry the naira to india or change to Rupees where?

1 Like

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Stephench: 9:04am On Aug 27, 2023

AllenSpencer:
🤣🤣🤣🤣🤣

Russia did same and we all know where the Ruble at now!

It’s just a matter of time!

India should dump the dollar as their reserve currency and I will take them serious. 🤣🤣🤣🤣

Your chat is bullish. What's your point? Retracement is normal in the market

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by Stephench: 9:07am On Aug 27, 2023

ecolime:
Good one. I've always supported trading in local currencies.

Nevertheless, it won't still scratch the value of the dollar. The US exports more than they import so na the balance of payment be the koko.

There is a reason why Pounds sterling GBP is strong like a rock despite not being used as the major world settlement currency like the USD.

As long as the US stay ahead of others in innovations, technologies, etc. they have nothing to worry.

A country that owns and hosts Apple, Microsoft, Oracle, Boeing, GE, Tesla, etc and you think their currency will fall yakata?

Just dey play

The US prints money indiscriminately to fund wars and build military bases and international lobbying to remain in power. If the dollar is used 20% less, the US will be forced to reduce printing more money and that will affect their wealth. If they keep printing with less demand, you know what that means

2 Likes

Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by saysoo: 9:07am On Aug 27, 2023

DonMarkuzi:

Can you Google the percentage of indians living in UAE for a start?

And what is the total number of people living in UAE? for a finish.

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