In a significant development aimed at strengthening ties between India and the Maldives, plans are underway to introduce the RuPay payment service in the Maldives. The exact launch date is yet to be announced, but discussions are ongoing to explore avenues for facilitating payments in Indian rupees. RuPay, India’s indigenous card payment network, is widely accepted across the country and its implementation in the Maldives is expected to bolster the Maldivian Rufiyaa and promote bilateral trade and tourism. The Maldivian government has expressed its commitment to addressing the issue of dollar dependence and reinforcing the local currency. India and China have also agreed to cooperate in settling import payments in their respective currencies, offering the Maldives potential savings in foreign exchange reserves.