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Bank of Cyprus opens direct rupee payment channel

Original: 🇨🇾 Bank of Cyprus opens direct rupee payments, deepening EU–India financial links Bank of Cyprus now allows businesses a

Bank of Cyprus has begun allowing businesses and individuals to transact directly in Indian rupees, removing the need for intermediary currencies in cross-border payments between Cyprus and India. The move strengthens financial links between the EU and India and supports wider efforts to internationalise the rupee in global trade settlement.

Why now: Direct rupee transactions by an EU-based bank signal expanding India-EU trade and finance ties, a topic of current interest.

Bank of CyprusIndiaCyprusEuropean Union

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• 🇨🇾 Bank of Cyprus opens direct rupee payments, deepening EU–India financial links Bank of Cyprus now allows businesses and individuals to transact directly in Indian Rupees, reducing the need for intermediary currencies and making cross-border payments more direct and… · EU_Economics · 1

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