Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Russia's VTB to launch cross-border money transfers to India

Published 09/13/2023, 02:03 AM
Updated 09/13/2023, 02:07 AM
© Reuters. FILE PHOTO: The logo of VTB bank is seen on the bank's headquarters in Tehran, Iran, May 23, 2023. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS/File Photo
USD/RUB
-
VTBR
-

MOSCOW (Reuters) - Russia's VTB Bank said on Wednesday that it will launch money transfers in Indian rupees by the end of September.

Retail customers will be able to send money to individuals and legal entities in India, the bank said. The maximum volume of one transaction will be 20 million roubles ($213,106), the commission is 1% of the transfer amount.

© Reuters. FILE PHOTO: The logo of VTB bank is seen on the bank's headquarters in Tehran, Iran, May 23, 2023. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS/File Photo

Russia's top lenders Sberbank and VTB have said they are improving their ability to convert rupees into roubles, helping exporters to get funds effectively trapped in India due to Western sanctions.

($1 = 93.8500 roubles)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.