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of <h1>Asian Clearing Union Enables Multilateral Payment Clearing Among Member Countries Using Asian Monetary Unit</h1> The Asian Clearing Union (ACU), established in 1974 in Tehran, facilitates multilateral payment clearing among member countries, including Iran, India, Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka, and Myanmar. Transactions are conducted in the Asian Monetary Unit, equivalent to the U.S. dollar. Authorized dealers in India handle ACU transactions like regular foreign exchange dealings and can open ACU dollar accounts without Reserve Bank of India approval. Eligible transactions include current international payments and trade between member countries, while certain payments, such as those between Nepal and India, are ineligible. The Reserve Bank of India manages liquidity and settlement processes.
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