Possibility of trading between Malaysia and India in Indian rupees.
Malaysia is India's 13th largest trading partner.
Both countries share various goods and services.
During the recent bilateral trade meeting, the Malaysian government expressed its willingness to conduct India-Malaysia trade in Indian rupees.
The Malaysian government made this demand due to a huge depletion of foreign exchange reserves.
Accepting this, the Government of India took steps for this through the Reserve Bank.
Accordingly, Bank of Malaysia has opened Vastro account with Union Bank in India. Any further fluctuations in the US dollar will not affect Indian exporters exporting to Malaysia.
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