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Search result for 'maldivian rufiyaa'

Mumbai, Mar 17...

India-Maldives Trade Now in Local Currencies: RBI

March 17, 2025 19:45

Reserve Bank of India (RBI) allows trade transactions between India and Maldives to be settled in Indian Rupee (INR) and Maldivian Rufiyaa (MVR).

Mumbai, Nov 21...

RBI, Maldives Sign Pact for Local Currency Use

November 21, 2024 18:42

The Reserve Bank of India (RBI) and the Maldives Monetary Authority signed an agreement to promote the use of local currencies for cross-border transactions, aiming to boost trade and financial...

Male, Nov 1 (PTI)...

Maldives to Receive MVR 1.6 bn from India in 2025

November 1, 2024 15:32

The Maldives government estimates receiving MVR 1.6 billion in grant aid from India in 2025, constituting 72% of total foreign aid. Learn more about the proposed budget and India's financial support.

Male, Oct 20...

Maldives Imposes New Foreign Currency Rules Amidst Debt Crisis

October 20, 2024 13:13

The Maldives has implemented new foreign currency regulations, requiring tourism businesses to exchange USD 500 per tourist and deposit earnings in local banks. The move comes as the country faces...

Maldives-China FTA: Trade to Hit $1 Billion from 2025

September 17, 2024 19:40

Maldives and China's Free Trade Agreement (FTA) will take effect on January 1, 2025, boosting bilateral trade to $1 billion. The agreement aims to enhance export opportunities and reduce dependency...

Male, May 23...

Maldives to Launch India's RuPay Service

May 23, 2024 18:29

Maldives to launch India's RuPay service, aiming to bolster the Maldivian Rufiyaa. The move comes despite recent tensions in bilateral ties. Learn more about the impact and future of RuPay in the...

Male, May 22...

Maldives to Pay for Imports from India & China in Local Currency

May 22, 2024 13:57

Maldives will pay for imports from India and China in their respective local currencies, saving millions in USD costs. This move signifies a shift away from US dollar dominance in international trade.

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