IMPHAL, September 6: India and Japan has decided to expand the bilateral currency swap arrangement in a bid to strengthen the bilateral financial cooperation between the two countries.
According to a press release of the PIB, the two governments decided to expand the current bilateral currency swap arrangement from 15 to 50 billion US dollars.
The two governments expect that this will contribute to the stability of global financial markets including emerging economies, it said.
The two governments also reiterated the importance of continued reforms in financial and investment sectors for promoting stable and long term capital inflows into India, the PIB statement said before adding that the two Governments believe that these policy measures will strengthen the bilateral financial cooperation between Japan and India.
