Various measures were undertaken to promote use of INR and trading countries currency for cross-border transactions: RBI Annual Report

The Reserve Bank undertook various measures to promote the increasing use of the INR and local currencies of partner trading countries for international cross-border transactions and focused on rationalising various regulatory, supervisory and authorisation frameworks for ease of undertaking forex transactions, RBI stated in its Annual Report for the Year 2024-25 released on Thursday. A framework for the comprehensive reporting of forex transactions to further strengthen regulatory reporting is also underway. Going forward, the liquidity operations would continue to be in sync with the stance of monetary policy, while the foreign exchange operations would be guided by the objective of ensuring orderly movements in the exchange rate of the INR, the report noted.

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