1. You Are At:
  2. Home
  3. Business News
  4. RBI extends swap arrangement with SAARC nations

RBI extends swap arrangement with SAARC nations

Mumbai: In order to enhance economic cooperation and strengthen financial stability, RBI has extended the USD 2 billion currency swap arrangement to SAARC nations till mid-November 2017.The Reserve Bank said in a notification today that

PTI [ Updated: February 23, 2016 21:40 IST ]
rbi extends swap arrangement with saarc nations
rbi extends swap arrangement with saarc nations

Mumbai: In order to enhance economic cooperation and strengthen financial stability, RBI has extended the USD 2 billion currency swap arrangement to SAARC nations till mid-November 2017.

The Reserve Bank said in a notification today that it has decided to extend the SAARC Currency Swap Arrangement till November 14, 2017.

Under the arrangement, RBI is to offer swap arrangement up to an overall amount of USD 2 billion both in foreign currency and Indian rupee.

Read Also: RBI to visit banks incognito to check customer dealings

The SAARC Swap Arrangement was offered by the RBI to SAARC nations on November 15, 2012.

The facility will be available to all SAARC member countries Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka.

The swap amount available to various member central banks has been arrived at broadly based on two months import cover subject to a floor of USD 100 million and a maximum of USD 400 million per country.

Live Indian Premier League (IPL) 2018: FULL COVERAGE

VIVO IPL 2018: Click here to get Live Score Updates, Ball-by-Ball Commentary, Schedule, Points Table, Match Timing and Match Analysis.

Promoted Content
four-years-of-modi-govt
Indian T20 League 2018