Reserve Bank of India and Maldives Monetary Authority Sign Memorandum of Understanding (MoU) to Promote Use of Local Currencies for Bilateral Transactions

News Financial services General Updates

Date: 21st Nov, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On November 21, 2024, the Reserve Bank of India issued an update regarding 'Reserve Bank of India and Maldives Monetary Authority Sign Memorandum of Understanding (MoU) to Promote Use of Local Currencies for Bilateral Transactions'. The RBI and Maldives Monetary Authority signed a MoU to promote the use of Indian Rupee and Maldivian Rufiyaa in cross-border transactions, enabling exporters and importers to invoice and settle in their domestic currencies."

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Reserve Bank of India and Maldives Monetary Authority Sign Memorandum of Understanding (MoU) to Promote Use of Local Currencies for Bilateral Transactions

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Reserve Bank of India and Maldives Monetary Authority Sign Memorandum of Understanding (MoU) to Promote Use of Local Currencies for Bilateral Transactions

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