What is currency swap agreement between countries and india?
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India and Japan Monday concluded a $75 billion bilateral currency swap agreement, a move that will help in bringing greater stability in foreign exchange and capital markets in the country. The agreement will further strengthen and widen the depth and diversity of economic cooperation between the two countries.
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Answer:
A currency swap is a contract between countries and India to exchange currency with predetermined terms and conditions.
Explanation:
Main purpose of currency swaps is to avoid several risks in the foreign exchange market and exchange rates between the countries and India.
This also ensure financial stability as it also have supplementary objectives like bilateral trades.
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