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<h1>Local currency settlement allowed for bilateral trade with Maldives alongside ACU mechanism, effective immediately from now.</h1> The central bank has authorised local currency settlement for bilateral trade with the Maldives, allowing transactions to be settled in INR and/or MVR in addition to the Asian Clearing Union mechanism pursuant to a Memorandum of Understanding; these instructions take effect immediately and provide an additional payment option alongside ACU multilateral netting.