Currency Swap Agreement with MMA
Recently, the Reserve Bank of India (RBI) signed a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework.
- This is to provide swap support as a backstop line of funding for short term foreign exchange liquidity requirements.
- This agreement will enable the MMA to make drawals in multiple tranches up to a maximum of USD 200 million from the RBI.
- In 2020, the RBI signed a currency swap agreement for extending up to USD 400 million to Sri Lanka.
SAARC Currency Swap Agreement: Key Points
- The SAARC currency swap facility came into operation on 15th November, ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
World Watch
- 1 Indian PM’s Visit to Sri Lanka
- 2 Saudi-Iran Relations: Shifts in Diplomatic Approaches
- 3 India Withdraws Transshipment Facility for Bangladesh
- 4 Global Pandemic Treaty: A Milestone in International Health Diplomacy
- 5 India and Italy Expand Bilateral Cooperation
- 6 India and Saudi Arabia Deepen Strategic Ties
- 7 India and Thailand Elevate Ties to Strategic Partnership Status
- 8 India-UAE: Strengthening Strategic Partnership
- 9 Second Meeting of the India-EU Trade and Technology Council (TTC)
- 10 Jaipur 3R and Circular Economy Declaration