Current Context: On 20 August 2026, Razorpay launched a Multi-Currency EEFC settlement facility for Indian exporters and international businesses.
- The facility allows merchants to receive eligible international payment settlements directly into their Exchange Earners’ Foreign Currency (EEFC) accounts in the original foreign currency instead of first converting the money into Indian rupees.
- The facility currently supports settlements in USD, EUR, GBP, AED and SGD.
- It helps exporters retain foreign currency earnings and convert them into INR only when required.
- This can reduce foreign-exchange conversion costs, especially for businesses that also have expenses in foreign currencies.
- It also improves cash-flow management by giving businesses greater control over the timing of currency conversion.
- The facility is integrated with Razorpay’s existing settlement and reconciliation system, so eligible merchants can use it without creating a separate merchant account.
- An EEFC account is a foreign-currency account that allows eligible Indian exporters to retain foreign exchange earnings instead of immediately converting them into rupees.
Question:
Q1. Which five currencies are currently supported under Razorpay’s Multi-Currency EEFC settlement facility?a) USD, EUR, GBP, AED and SGD
b) USD, EUR, JPY, CAD and AUD
c) USD, GBP, CAD, CHF and SGD
d) EUR, JPY, AED, CAD and AUD
Answer: a) Razorpay currently supports direct EEFC settlements in USD, EUR, GBP, AED and SGD, allowing exporters to retain their earnings in the original transaction currency.
