India ‘satisfied’ with role of USD 400m currency swap

15 hours ago

India has expressed satisfaction at the role of the USD 400 million currency swap between Male’ and New Delhi in boosting Maldives’ foreign exchange (FX) reserves, thereby alleviating imminent external liquidity strains. The Maldives Monetary Authority (MMA) and the Reserve Bank of India (RBI) signed the USD 400 million in October 2024, proving a backstop line of funding for Maldives’ short-term