June 25, 2026
YANGON – Myanmar and India are reportedly discussing drafting an agreement to establish a bilateral currency swap arrangement between the central banks of the two countries.
The discussion took place on June 23 when Dr. Khin Naing Oo, Governor of the Central Bank of Myanmar, received HE Mr. Abhay Thakur, Ambassador of India to Myanmar , and his team at the Central Bank of Myanmar Conference Hall in Nay Pyi Taw.
During the meeting, they discussed the current status of cooperation between the Reserve Bank of India, National Payments Corporation of India ( NPCI ) , Central Bank of Myanmar (CBM) , MMQR Consortium and Myanmar Payment Union (MPU) to establish interoperability between UPI QR and RuPay systems with Myanmar’s MMQR infrastructure, the draft agreement on the establishment of a bilateral currency swap arrangement between the central banks of the two countries, and ways to further strengthen mutually beneficial banking cooperation.
The meeting was attended by vice-chairmen and departmental officials from the Central Bank of Myanmar.