9911796707
TMI BlogRBI permits settlement of trade transactions with Maldives in local currenciesX X X X Extracts X X X X X X X X Extracts X X X X ..... RBI permits settlement of trade transactions with Maldives in local currencies X X X X Extracts X X X X X X X X Extracts X X X X ..... al trade transactions with Maldives may also be settled in INR and/or MVR in addition to the ACU mechanism. Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts for intra-regional transactions among the participating central banks on a net multilateral basis. The participants include central banks and the monetary authorities of Bangladesh, Belarus, Bhut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. A Memorandum of Understanding (MoU) has been signed between RBI and Maldives Monetary Authority in November 2024 for establishing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a framework to promote the use of local currencies -- Indian Rupee (INR) and Maldivian Rufiyaa (MVR) for bilateral transactions. "In the wake of signing of Memorandum of Understanding (MoU)...it has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been decided that India's bilateral trade transactions with Maldives may also be settled in INR and/or MVR in addition to the ACU mechanism, as hitherto," the RBI said in a circular. The RBI furthe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r said the instructions shall come into force with immediate effect. PTI NKD HVA X X X X Extracts X X X X X X X X Extracts X X X X
|
