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
Buy February 2023 Issue

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 before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

World Watch