Reflecting the growing might of China and India in the global economy, the Asian Development Bank (ADB) on Tuesday said it would start supporting deals denominated in rupee and renminbi under its Trade Finance Programme (TFP) in view of the expected rise in inter-regional transactions using the two currencies.
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Rupee, yuan gain currency at ADB
Reflecting the growing might of China and India in the global economy, the Asian Development Bank (ADB) on Tuesday said it would start supporting deals denominated in rupee and renminbi under its Trade Finance Programme (TFP) in view of the expected rise in inter-regional transactions using the two currencies.
ADB OK’s renminbi, rupee deals
Intra-regional trade transactions is expected to rise as the Asian Development Bank (ADB) announced that it will start supporting deals which uses renminbi and Indian rupee under its Trade Finance Program (TFP).