The first transaction of over Rs 1 crore pulses export to Myanmar from India was successfully executed under the Rupee-Kyat trade settlement mechanism.
The move which will boost bilateral trade and enhance the usage of local currencies.
The Indian mission in collaboration with the India-Myanmar Chamber of Commerce (IMCC) had organised an awareness event on the use of the Rupee-Kyat Trade Settlement Mechanism in February 2024.
The Central Bank of Myanmar released the guidelines for payment procedures under the Special Rupee Vostro Account (SRVA) on January 26.
