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Currency Swap Pact: India, Maldives sign INR 30 bln, $400 mln currency swap agreement

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Currency Swap Pact

India, Maldives sign INR 30 bln, $400 mln currency swap agreement

This story was originally published at 16:25 IST on October 7, 2024  Back
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India on Monday agreed to provide support of INR 30 billion in addition to $400 million to Maldives under the bilateral currency swap agreement amidst the ongoing financial crisis and depleting foreign exchange reserves of the island nation. The currency swap is among the agreements signed after the bilateral meeting between Prime Minister Narendra Modi and Maldives President Mohamed Muizzu.

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