New Development Bank plans to issue its first Indian rupee bond

The New Development Bank (NDB), established by the BRICS nations, is preparing to issue its first series of Indian rupee bonds by the end of March 2026, according to a Reuters report.

NDB Chief Financial Officer Monale Ratsoma stated that the bank is in discussions with the Indian government and regulators about "the possibility of raising capital in local markets to finance Indian projects in local currency."

The bank's previous bond issuances were denominated in Chinese yuan and South African rand. According to Reuters, both China and India are actively working to broaden the international use of their currencies, while a growing number of investors are looking to diversify their assets beyond traditional developed markets.

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