The Indian rupee can now be used in addition to other currencies to settle trade between India and Malaysia, the Ministry of Foreign Affairs (MEA) announced on Saturday.
The action comes in response to the Reserve Bank of India’s decision to permit the settlement of international transactions in Indian currency in July of last year.
In addition to the present methods of settlement in other currencies, trade between India and Malaysia can now be handled in Indian Rupee (INR), according to the MEA.
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