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- 1Bank of Cyprus enables direct rupee payments●🇨🇾 Bank of Cyprus opens direct rupee payments, deepening EU–India financial links Bank of Cyprus now allows businesses a
Bank of Cyprus has begun allowing businesses and individuals to make payments directly in Indian rupees. The move removes the need for intermediary currencies such as the dollar or euro in India-related transactions, cutting costs and settlement times. Observers see it as a step towards deeper financial ties between the EU and India and a further internationalisation of the rupee.