RBI signs Currency Swap Agreement with Maldives Monetary Authority

Daily Current Affairs / RBI signs Currency Swap Agreement with Maldives Monetary Authority

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Category : Business and economics Published on: December 15 2022

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Under the SAARC Currency Swap Framework, the Reserve Bank of India (RBI) has inked a Currency Swap Agreement with the Maldives Monetary Authority (MMA).
This arrangement allows the MMA to withdraw funds from the RBI in various tranches up to a maximum of USD 200 million.
The deal will offer swap support as a backstop funding source for short-term foreign currency liquidity needs.

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RBI signs Currency Swap Agreement with Maldives Monetary Authority