RBI and Bank of Mauritius Ink MoU to Boost INR-MUR Bilateral Transactions.

Banking & Finance

In March 2025, India's central bank, the Reserve Bank of India (RBI), and the central bank of Mauritius, the Bank of Mauritius (BOM), signed a Memorandum of Understanding (MoU) to establish a framework for promoting the use of the Indian Rupee (INR) and the Mauritian Rupee (MUR) in cross-border transactions.


      - The MoU was signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen in Port Louis, Mauritius, in the presence of Indian Prime Minister (PM) Narendra Modi and Mauritius PM Navinchandra Ramgoolam.

     

     

Main Point :-   (i) This agreement aims to enhance bilateral trade by facilitating the use of INR and MUR for payments in all current account transactions and permissible capital account transactions.

      (ii) It will enable exporters and importers to invoice and settle payments in their respective domestic currencies, thereby fostering a market for INR-MUR exchange.


About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
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