RBI signs Currency Swap Agreement with Maldives Monetary Authority

Mumbai: The Reserve Bank of India (RBI) has signed a Currency Swap Agreement with the Maldives Monetary Authority under the SAARC Currency Swap Framework.

This agreement will enable the Maldives authority to make drawals



in multiple tranches up to a maximum of 200 million dollars from the RBI. The agreement will provide swap support as a backstop line of funding for short-term foreign exchange liquidity requirements.