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flag India and Japan renew $75B currency swap deal to enhance financial stability and cooperation.

flag India and Japan have renewed their $75 billion Bilateral Swap Arrangement (BSA), effective February 28, 2025. flag The BSA allows both countries to swap their local currencies for US dollars. flag Signed by the Bank of Japan and the Reserve Bank of India, the agreement aims to strengthen financial safety nets, deepen financial cooperation between the nations, and support regional and global financial stability.

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