Central banks of India, Mauritius sign MoU to promote use of ₹, MUR
The Reserve Bank of India (RBI) and the Bank of Mauritius recently signed an MoU to set up a framework to promote the use of the Indian rupee (₹) and the Mauritian rupee (MUR) for cross-border transactions. The MoU covers all current account transactions and permissible capital account transactions. Use of local currencies would optimise costs and settlement time for transactions, RBI said.
The Reserve Bank of India (RBI) and the Bank of Mauritius recently signed an MoU to set up a framework to promote the use of the Indian rupee (₹) and the Mauritian rupee (MUR) for cross-border transactions.
The MoU covers all current account transactions and permissible capital account transactions.
Use of local currencies would optimise costs and settlement time for transactions, RBI said.
