Easebuzz Payment Gateway: Myanmar-India Officialise Myanmar-Rupee Direct Conversion Payment Settlement

India is one of Myanmar's major trading partners, ranking fourth among countries of export destination and sixth among countries of import origin. Among the member countries of the Asian Clearing Union (ACU), Myanmar has the highest trade with India. India-Myanmar bilateral trade is conducted through Special Rupee Current Account (SRVA). Guidelines for payments and settlements have been issued, enabling the transactions to be initiated. Merchants can now apply for a licence to use rupees for payments and account settlement, operations that can be legally executed through banking channels.

India occupies an important place in Myanmar's trade transactions, ranking fourth as a destination for exports and sixth as a source of imports. Among the member countries of the Asian Clearing Union (ACU), Myanmar ranks first in terms of trade with India. Both sides trade through Special Rupee Current Account (SRVA). The relevant payment and settlement guidelines have been issued to facilitate the initiation of transactions. Merchants can now apply for permission to use rupees for payments and account settlement, and these operations will be done through banking channels as per the law.