India and Japan signed a currency swap agreement worth USD 75 billion

Posted on:30 Oct 2018 11:44:37
India and Japan signed a currency swap agreement worth USD 75 billion
30 October 2018 Current Affairs:

India and Japan signed a currency swap agreement worth $75 billion. The agreement happened during Prime Minister Narendra Modi’s visit to Japan. The agreement aimed at a great friendship between the two countries and to further strengthen the economic cooperation. 
It is expected that the swap arrangement should aid in bringing greater stability to foreign exchange and capital markets in India.
Currency Swap:
♦ A currency swap involves the exchange of interest and sometimes of principal in one currency for the same in another currency
♦ Interest payments are exchanged at fixed dates through the life of the contract

India and Japan signed a currency swap agreement worth $75 billion. The agreement happened during Prime Minister Narendra Modi’s visit to Japan. The agreement aimed at a great friendship between the two countries and to further strengthen the economic cooperation. 
It is expected that the swap arrangement should aid in bringing greater stability to foreign exchange and capital markets in India.
Currency Swap:
♦ A currency swap involves the exchange of interest and sometimes of principal in one currency for the same in another currency
♦ Interest payments are exchanged at fixed dates through the life of the contract


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