India and Sri Lanka are exploring the possibility of using the Indian rupee for economic transactions and have discussed the initiative that will help in building a stronger and closer partnership through trade and investment-led measures between the two countries.

India, Sri Lanka mull using Indian rupee for economic transactions

Days after the Central Bank of Sri Lanka (CBSL) said that it was awaiting the Reserve Bank of India's (RBI) approval to designate Indian Rupee (INR) as a foreign currency in Sri Lanka, reports have emerged saying banks from India's neighbouring island nation have opened special rupee trading accounts, called Vostro accounts.

Sri Lanka to use Indian rupee for international trade, more countries aim to follow

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India, Sri Lanka mull using Indian rupee for economic transactions

Sri Lanka to use Indian rupee for international trade, more countries aim to follow