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<h1>RBI Amends Foreign Exchange Regulations: New Rules for Transactions with Nepal, Bhutan, and Iran Using ACU Dollar and Euro Accounts.</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000, effective from various retrospective dates. Key changes include revisions in the manner of receipt and payment of foreign exchange, particularly concerning transactions involving Nepal, Bhutan, and the Islamic Republic of Iran. Amendments specify the use of Asian Clearing Union dollar and euro accounts and outline payment provisions for Nepal, Bhutan, and Iran. These changes ensure compliance with the Foreign Exchange Management Act, 1999, and clarify that no adverse effects will result from the retrospective application of these regulations.
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