Banking Unit currency requirements permit INR business only where related financial transactions are settled in specified foreign currencies. Banking Units must conduct permitted business in specified foreign currencies with resident or non-resident persons identified by the Authority. INR ... Summary
Banking Unit currency requirements permit INR business only where related financial transactions are settled in specified foreign currencies.
Banking Units must conduct permitted business in specified foreign currencies with resident or non-resident persons identified by the Authority. INR business may be permitted with specified persons, subject to settlement of the related financial transaction in specified foreign currencies. The applicable currency standard replaces the former reference to freely convertible foreign currencies.
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