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You are here: Home India Business India, Japan ink $15 b. currency swap agreement

India, Japan ink $15 b. currency swap agreement

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Mumbai: India and Japan on December 5, signed a currency swap agreement for up to $15 billion to address short-term liquidity problems.

The bilateral swap arrangement (BSA) between the Reserve Bank of India and the Bank of Japan enables both countries to swap their local currencies either Japanese yen or Indian rupee against US dollar for an amount up to $15 billion.