Current Affairs - Economy - Discussion

Discussion Forum : Economy - Latest Current Affairs (Q.No. 391)

2023-08-02 Economy

391.

What mode of settlement has been announced for trade between India and Malaysia?

US Dollar (USD)

Malaysian Ringgit (MYR)

Indian Rupee (INR)

Euro (EUR)

Answer: Option

Explanation:

India and Malaysia can now trade using the Indian Rupee (INR) as a mode of settlement, alongside other currencies. Trading in local currencies can help reduce transaction costs and currency risk for businesses, encouraging greater trade and investment between India and Malaysia.