India extends INR 30 billion currency swap facility to Maldives
India extended an INR 30 billion currency swap facility to the Maldives under the SAARC Currency Swap Arrangement. The facility was agreed during President Muizzu's October 2024 state visit to India. It follows the maturity of a previous USD 400 million swap facility that expired on April 23, 2026. The current arrangement covers 2024-2027 with concessional terms. The High Commission of India in Malé confirmed the extension as part of regional financial support for economic stability.
India extended an INR 30 billion currency swap facility to the Maldives under the SAARC Currency Swap Arrangement. The facility was agreed during President Muizzu's October 2024 state visit to India. It follows the maturity of a previous USD 400 million swap facility that expired on April 23, 2026. The current arrangement covers 2024-2027 with concessional terms. The High Commission of India in Malé confirmed the extension as part of regional financial support for economic stability.
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India extended an INR 30 billion currency swap facility to the Maldives under the SAARC Currency Swap Arrangement. The facility was agreed during President Muizzu's October 2024 state visit to India. It follows the maturity of a previous USD 400 million swap facility that expired on April 23, 2026. The current arrangement covers 2024-2027 with concessional terms. The High Commission of India in Malé confirmed the extension as part of regional financial support for economic stability.
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