TTs in Yuan and Euros can be paid up to 50 percent in MVR

Telegraphic transfers (TTs) made in Chinese Yuan and Euros can now be paid up to 50 percent in Maldivian Rufiyaa (MVR), Bank of Maldives (BML) has announced.

In a post on social media, the bank said 50 percent of any TT issued in Yuan may be settled in MVR, with the remaining amount converted into Yuan. The same arrangement applies to TTs in Euros.

BML last week introduced yuan accounts, allowing customers to link their Visa or Mastercard cards to China’s WeChat Pay service.