<p>Mumbai: The Reserve Bank of India (RBI) on Monday said it has entered into a currency swap agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework 2024-27.</p><p>Under the agreement, the MMA is eligible for financing support from the RBI amounting to USD 400 million under the US Dollar/Euro Swap Window and Rs 30 billion (Rs 3,000 crore) under the INR Swap Window.</p><p>The agreement would be valid till June 18, 2027, the RBI said.</p>.Maldives President Muizzu, PM Modi promise to strengthen cooperation, ink currency swap agreement.<p>The SAARC Currency Swap Framework came into operation on November 15, 2012, to provide a backstop line of funding for short-term foreign exchange liquidity requirements or short-term balance of payments stress till longer term arrangements are made.</p><p>Prime Minister Narendra Modi and visiting Maldivian President Mohamed Muizzu also launched Rupay card in the Maldives, inaugurated a new runway at the Hanimadhoo International airport, and agreed to further strengthen bilateral relations that had hit a rocky patch last year.</p><p>Muizzu, who is on a four-day state visit, held talks with Prime Minister Modi at the Hyderabad House here. </p>
<p>Mumbai: The Reserve Bank of India (RBI) on Monday said it has entered into a currency swap agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework 2024-27.</p><p>Under the agreement, the MMA is eligible for financing support from the RBI amounting to USD 400 million under the US Dollar/Euro Swap Window and Rs 30 billion (Rs 3,000 crore) under the INR Swap Window.</p><p>The agreement would be valid till June 18, 2027, the RBI said.</p>.Maldives President Muizzu, PM Modi promise to strengthen cooperation, ink currency swap agreement.<p>The SAARC Currency Swap Framework came into operation on November 15, 2012, to provide a backstop line of funding for short-term foreign exchange liquidity requirements or short-term balance of payments stress till longer term arrangements are made.</p><p>Prime Minister Narendra Modi and visiting Maldivian President Mohamed Muizzu also launched Rupay card in the Maldives, inaugurated a new runway at the Hanimadhoo International airport, and agreed to further strengthen bilateral relations that had hit a rocky patch last year.</p><p>Muizzu, who is on a four-day state visit, held talks with Prime Minister Modi at the Hyderabad House here. </p>