RBI and the Central Bank of the UAE Work Together To Promote CBDC Cross-Border Transactions.

On March 15, the Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates (CBUAE) signed a memorandum of understanding (MoU).

It is anticipated that this bilateral testing of CBDC cross-border use cases will lower costs.

The Digital Rupee is issued by the RBI in the same denominations as coins.