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Japan, India expand joint currency swap line to $50 bln

Reuters  |  ST. PETERSBURG, Russia 

ST. PETERSBURG, Russia (Reuters) - Japan and India have decided to expand a bilateral currency swap facility to $50 billion from $15 billion, the two countries announced on Friday after bilateral talks on the sidelines of a Group of 20 summit.The expanded facility would boost the financial backing for the rupee, one of the emerging markets currencies that has been hit hard by the prospective scaling back of ultra-easy U.S. monetary policies.(Reporting by Tetsushi Kajimoto; Writing by Douglas Busvine; Editing by Lidia Kelly)

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First Published: Fri, September 06 2013. 14:14 IST