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
- Alibaba surges 38 pct on massive demand in market debut
- PM Modi says al Qaeda will fail in India - CNN
- Eight bodies found after attack on Guinea Ebola education team
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State
- U.S. Fed's Fisher expects first rate hike in the spring - FBN
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday. Full Article
Top rice exporter India importing over 100,000 T on temporary supply squeeze. Full Article