Mumbai: Reserve Bank on Monday said India's bilateral 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 payments 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, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.
A Memorandum of Understanding (MoU) has been signed . . .
Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.
You cannot copy content of this page
