RBI inks treaty for cross border transactions with Maldives to promote use of local currencies
Mumbai (Maharashtra) [India], November 22 (ANI): The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) signed a Memorandum of Understanding (MoU) in Mumbai to establish a framework to promote the use of their respective local currencies, the Indian Rupee (INR) and the Maldivian Rufiyaa (MVR).
The MoU was signed in the presence of RBI Governor Shaktikanta Das and MMA Governor Ali Hashim on Thursday.
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