Bank of Cyprus introduces transactions in Indian rupees

On September 28, 2026, the Bank of Cyprus announced the launch of direct transaction capabilities in Indian rupees (INR). This initiative is designed to streamline commercial, investment, and personal financial dealings between Cyprus and India, effectively eliminating the need for intermediate currencies during cross-border payments.

The new service is specifically targeted at businesses with operations or trade links in India, as well as Indian nationals residing in Cyprus who need to send remittances back to their home country. By facilitating direct payments, the bank aims to provide greater efficiency, lower costs, and increased flexibility for its clients managing international obligations in the Indian market.

In addition to the launch of rupee-denominated transactions, the Bank of Cyprus is currently pursuing a regulatory license to open a formal representative office in India. This move underscores the institution's broader strategic goal of strengthening economic corridors and fostering deeper financial cooperation between the two nations.