RBI signs currency swap agreement with Bank of Japan
MUMBAI (Reuters) - The Reserve Bank of India signed a currency swap agreement with Bank of Japan to swap their local currencies against the U.S. dollar for up to $15 billion, a statement said on Tuesday.
"The arrangement aims at addressing short-term liquidity difficulties and supplementing the existing international financial arrangements," the RBI said.
The bilateral swap arrangement is for a period of three years. The two countries had earlier signed a similar pact for up to $3 billion from June 2008 to June 2011. (Reporting by Neha Dasgupta; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
- TCS net profit rises 51.5 percent, beats estimates
- UPDATE 5-Nearly 300 missing after South Korean ferry capsizes - coastguard
- Infosys says staff exodus a worry after Q4 profits beat estimates
- Ocean floor search for missing Malaysia plane cut short again
- Pro-Russians take control of Ukrainian troop carriers
Tata Consultancy Services Ltd , India's largest IT services exporter, posted a 51.5 percent rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets. Full Article | Full Coverage