Asian Clearing Union (ACU) Mechanism – Exports to Nepal

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..... Union (ACU) Mechanism - Exports to Nepal As authorised dealers are aware, in terms of the Reserve Bank Notifications No.FEMA 14/RB-2000 and FEMA 17/RB-2000 dated May 3, 2000, all trade transactions between a person resident in India and a person resident in Nepal may be settled in rupees. It has now been decided that in case of export of goods to Nepal, where an importer resident in Nepal .....

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