Central banks of India, Mauritius sign MoU to promote use of ₹, MUR

The Reserve Bank of India (RBI) and the Bank of Mauritius recently signed an MoU to set up a framework to promote the use of the Indian rupee (₹) and the Mauritian rupee (MUR) for cross-border transactions.
The MoU covers all current account transactions and permissible capital account transactions.
Use of local currencies would optimise costs and settlement time for transactions, RBI said.