Maldives to launch RuPay service

India’s RuPay service will soon launch in Maldives. The announcement comes amidst the tensions in bilateral ties between India and Maldives. The RuPay launch ‘will bolster the Maldivian Rufiyaa’, a senior minister of Maldives said.

“We are currently engaged in discussions with India to explore avenues for facilitating payments in rupees,” the minister said.

Speaking about the upcoming RuPay launch, Minister of Economic Development and Trade Mohamed Saeed, said “The upcoming launch of India’s RuPay service is anticipated to further bolster the Maldivian rufiyaa (MVR).” He also emphasised that “addressing the dollar issue and reinforcing the MVR is a top priority for the current administration.”