2.8
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Asian Clearing Union
The Asian Clearing Union (ACU) is only a mechanism for settlement of payments between participating countries Until 31st December 1995 the settlement of transactions was being made in Indian rupees or in the currency of the other participating country or in AMU Effective January 1 1996 payments are required to be made/received through ACU dollar accounts maintained with authorised dealers in India in the names of their correspondent banks in ACU countries or ACU dollar accounts maintained by authorised dealers with their branches/correspondents abroad. The Exchange Control regulations laid down in this Manual will govern the payments and receipts cleared through the Union.