RBI signs currency swap pact with Maldives
The Reserve Bank of India has signed an agreement to extend up to $200 million currency swap facility to Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework.
“This agreement will enable the MMA to make drawals in multiple tranches up to a maximum of $200 million from the RBI,” a press release said.
The facility is to provide swap support as a backstop line of funding for short term foreign exchange liquidity requirements, it said.
In 2020, the RBI had signed a similar pact for extending up to $400-million currency swap facility to Sri Lanka.
