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RBI gives nod to India-Malaysia rupee trade; to boost exports

03 Apr '23
2 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • RBI has allowed India and Malaysia to settle trade in Indian rupee through a payment mechanism set up by the IIBM.
  • This move is aimed at fostering trade growth and supporting the interests of the global trading community.
  • Textile trade between the two countries nearly doubled in 2022, with India's apparel exports to Malaysia reaching $147.628 million.

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