RBI signs Currency Swap Agreement with Maldives Monetary Authority

The Reserve Bank of India (RBI) has 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 $200 million from the RBI.

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