https://sputniknews.in/20230724/sri-lanka-may-allow-using-indian-rupee-for-local-transactions-minister--3152136.html
Sri Lanka May Allow Using Indian Rupee for Local Transactions: Minister
Sri Lanka May Allow Using Indian Rupee for Local Transactions: Minister
Sputnik India
Sri Lanka Foreign Minister Ali Sabry told reporters that the island nation is exploring the possibility of allowing the usage of the Indian currency for local transactions, just like the US Dollar, Chinese renminbi, Yen, Euro and Swiss Franc, etc.
2023-07-24T14:17+0530
2023-07-24T14:17+0530
2023-07-24T14:17+0530
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Sri Lankan Foreign Minister Ali Sabry has stated that his country was exploring the possibility of allowing the usage of the Indian currency for local transactions, just like the US dollar, Chinese renminbi, yen, euro, and Swiss Franc, among others. The minister revealed this while briefing the media on the Sri Lankan president's trip to India. Earlier this month, Sri Lanka formally included the Indian rupee as a designated foreign currency. So far, the island country has designated 15 foreign currencies.The minister said the move to allow the use of its neighbour’s currency would enable “tourists and other people from India to directly use Indian rupees here” without going through the hassle of multiple currency conversions.On Friday, India and Sri Lanka signed a network-to-network agreement to launch New Delhi’s domestic digital payments platform the Unified Payments Interface (UPI) in Sri Lanka. India has provided $4 billion worth of financial and humanitarian support to the crisis-hit island nation over the last two years and emerged as one of the biggest lenders to the country.On Friday, the two countries noted that the decision to designate INR as currency for trade settlements between the two countries has forged stronger and mutually-beneficial commercial linkages. Both agreed to operationalize Unified Payments Interface-based digital payments to further enhance trade and transactions between businesses and common people.
https://sputniknews.in/20230715/sri-lankan-president-wants-to-see-indian-rupee-used-as-much-as-dollar-3020705.html
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sri lanka foreign minister ali sabry, indian currency, local transactions, us dollar, chinese renminbi, yen, euro, swiss franc, indian rupee, unified payments interface, upi,
Sri Lanka May Allow Using Indian Rupee for Local Transactions: Minister
Deexa Khanduri
Sputnik correspondent
Last week, Sri Lankan President Ranil Wickremesinghe met Prime Minister Narendra Modi. This was Wickremesinghe's maiden India visit since assuming office last year.
Sri Lankan Foreign Minister
Ali Sabry has stated that his country was exploring the possibility of allowing the usage of the
Indian currency for
local transactions, just like the US dollar, Chinese renminbi, yen, euro, and Swiss Franc, among others.
The minister revealed this while briefing the media on the Sri Lankan president's trip to India.
Earlier this month, Sri Lanka formally included the Indian rupee as a designated foreign currency.
So far, the island country has designated 15 foreign currencies.
The minister said the move to allow the use of its neighbour’s currency would enable “tourists and other people from India to directly use Indian rupees here” without going through the hassle of multiple currency conversions.
On Friday,
India and Sri Lanka signed a network-to-network agreement to launch New Delhi’s domestic digital payments platform the
Unified Payments Interface (UPI) in Sri Lanka.
India has provided $4 billion worth of financial and humanitarian support to the crisis-hit island nation over the last two years and emerged as one of the biggest lenders to the country.
On Friday, the two countries noted that the decision to designate INR as currency for trade settlements between the two countries has forged stronger and
mutually-beneficial commercial linkages. Both agreed to operationalize Unified Payments Interface-based digital payments to further enhance trade and transactions between businesses and common people.
