Paying in rupees in Thailand soon? Imagine the possibility of using Indian rupees to tip at a beachside bar in Pattaya or a luxurious spa in Bangkok. This scenario could become a reality if India successfully negotiates a currency agreement with Thailand.
The Indian government and the Reserve Bank of India (RBI) are exploring the possibility of popularizing the rupee in Thailand, a popular destination for Indian tourists and businesses.The central bank has requested banks to provide their inputs and expectations regarding transactions linked to Thailand, as authorized dealer banks have insights into travelers’ destinations, international card spends, and trade invoices.
“They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.
The Indian government and the Reserve Bank of India (RBI) are exploring the possibility of popularizing the rupee in Thailand, a popular destination for Indian tourists and businesses.The central bank has requested banks to provide their inputs and expectations regarding transactions linked to Thailand, as authorized dealer banks have insights into travelers’ destinations, international card spends, and trade invoices.
“They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.
Rupee route
India has been attempting to…
