May 25, 2024 6:05 PM

Maldives to introduce India’s RuPay service to strengthen economy

The Maldives is set to introduce India’s RuPay payment system, a move expected to strengthen the Maldivian Rufiyaa. Although no specific launch date has been announced, this initiative is seen as a step towards enhancing the country's financial stability.   Maldives' Minister of Economic Development and Trade, Mohamed Saeed, mentioned that both India and China have agreed to use their local currencies for bilateral trade. This strategy aims to reduce reliance on the US dollar and improve re...