Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
“Rupee-Kyat
Trade Settlement Mechanism is operational now,” the Embassy of
India in Yangon posted on X.
“The first transaction of over INR 1
cr of pulses export was successfully executed by the Yangon office of PNB India. We encourage businesses on both
sides to benefit from the mechanism,” it said.
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.
The Central Bank of Myanmar released the guidelines for payment
procedures under the Special Rupee Vostro Account (SRVA) on January 26.
“To boost bilateral trade and to enhance the usage of local currencies,
a Rupee Kyat Trade Settlement Mechanism has been operationalised,” the Indian
embassy had earlier said in a press release.
The establishment of the mechanism, it said, “will simplify trade transactions and make them more efficient. It will
reduce costs associated with currency conversions”.
