October 29, 2018 / 10:59 AM / a year ago

India, Japan sign $75 billion currency swap agreement

Shinzo Abe, Japan's Prime Minister and Narendra Modi, India's Prime Minister, review an honor guard ahead of a meeting at Abe's official residence in Tokyo, Japan, October 29, 2018. Kiyoshi Ota/Pool via Reuters

NEW DELHI (Reuters) - India and Japan have signed a $75 billion bilateral currency swap agreement on Monday during Prime Minister Narendra Modi’s visit to Tokyo, India said in a statement.

The agreement should help bring greater stability to foreign exchange and capital markets in India, the statement added.

Reporting by Manoj Kumar, Editing by Sherry Jacob-Phillips

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