Standard Chartered Bangladesh recently competed the first Indian Rupee (INR) denominated trade transaction for Walton Hi-Tech Industries PLC, a concern of the Walton Group, to facilitate refrigerator and freezer exports to India, a press release said Tuesday. This milestone is also the first BDT-INR export transaction for Bangladesh’s electronics industry. The export transaction is the first cross-border trade transaction for Standard Chartered Bangladesh to have been settled in each nation’s respective local currencies – opening up a new avenue for currency diversification. The ability to offer payment options in Indian Rupees to the WaltonHi-Tech Industries PLC’s India-based customers allows the organisation greater operational flexibility and simultaneously assists in the conglomerate’s brand enhancement and the country’s overall export diversification objectives. Access to direct invoicing facilities in INR also results in reduced costs and savings. Standard Chartered’s global network and regional strength makes it possible to offer seamless BDT-INR transactions and trade capabilities, accelerating bilateral trade between the two countries.
