The Shanghai-based New Development Bank, a.k.a. the BRICS bank, issued its first yuan-denominated bonds in July of 2016, and bank officials have said that in the future the bank will consider issuing more bonds in its members' local currencies, including the Indian rupee (INR) (First Post, The Financial Express). For more information on the New Development Bank see the bank's press page. Recommended Questions Will Malaysia impose capital controls before 1 October 2016? What will be the end-of-day closing value for the dollar against the renminbi on 30 September 2016?