Japan, India expand currency swap arrangement to $50 billion

Japan and India on Friday expanded an arrangement for swapping their local currencies against

RELATED ARTICLES

the U.S. dollar, raising the size to as much as $50 billion from the original $15 billion.

The expanded swap arrangement, signed by Bank of Japan Governor Haruhiko Kuroda and his Indian counterpart Raghuram Rajan, will be effective until December 2015, the BOJ said in a statement on Friday.

The swap arrangement aims to counter any short-term liquidity problems the two countries may face in future.

"This expansion of the bilateral swap arrangement will contribute to the stability of global financial markets including emerging economies," the BOJ statement said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Modi’s big wins in Haryana, Maharashtra are major milestones

    The results of the assembly elections in Maharashtra and Haryana are pretty much on the lines of the exit polls which suggested that the BJP was going

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: Pitfalls of know-alls

The over-confidence effect is a well-established bias in which a ...

Parvez Imam

Where survival depends on greed

Far away in another galaxy hangs a planet occupied by ...

Bubbles Sabharwal

Why life is an instrument of self-expression

You know the old saying that goes like: misery loves ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture