India agrees currency swap with Maldives
RBI to provide $760bn in support to archipelago
The Reserve Bank of India (RBI) said on October 7 that it had entered into a currency swap agreement with its counterpart in the Maldives, whereby it would provide the archipelago with up to $760 million in financial support.
The RBI has agreed currency swap lines of $400 million and 30 billion Indian rupees ($357 million) with the Maldives Monetary Authority (MMA). These will be valid until June 18, 2027.
The agreement came on the day that Maldivian president Mohamed Muizzu met with Indian
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