The RBI signed a $400 million currency swap agreement with the Maldives to strengthen regional economic stability.

The Reserve Bank of India has signed a $400 million currency swap agreement with the Maldives Monetary Authority, valid until June 18, 2027, to enhance regional economic stability. This deal is part of the SAARC Currency Swap Framework, providing liquidity support. Concurrently, Indian Prime Minister Modi and Maldivian President Muizzu launched RuPay cards to facilitate cashless transactions and inaugurated a new runway at Hanimadhoo International Airport to boost tourism and economic ties.

October 07, 2024
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