Japan and India renew Bilateral Swap Arrangement

The Bank of Japan and the Reserve Bank of India signed the third Amendment and Restatement Agreement of the BSA, RBI stated in an update. The BSA is a two-way arrangement where both authorities can swap their local currencies in exchange for the US Dollar. The size of the BSA remains unchanged, that is, up to 75 billion US Dollars. Japan and India believe that the BSA, which aims to strengthen and complement other financial safety nets, will further deepen financial cooperation between the two countries and contribute to regional and global financial stability.

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