RBI (Reserve Bank of India) announced that it signed a Memorandum of Understanding (MoU) for establishing a framework to promote using local currencies such as INR and MUR. The banks have agreed to use the Mauritian and Indian currencies for cross-border transactions. The MoU aims to help each country develop in their respective exchange markets and help in bilateral trade and settlements. On March 13, 2025, Bank of Mauritius also confirmed the agreement via its website. LG Electronics IPO Coming: LG Electronics India Gets SEBI Nod To Raise Around INR 15,000 Crore via Offer for Sale.

RBI, Bank of Mauritius Sign MoU To Promote Local Currencies

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