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of <h1>Commerce Dept. Forms Task Force to Explore Local Currency Trades; Involves EXIM Bank, ECGC, SBI.</h1> A task force on Currency Swap Arrangements for Trade has been established by the Department of Commerce, including members from EXIM Bank, ECGC, and SBI. The task force aims to explore the feasibility of using local currency for trade with major trading partners and will assess the advantages and disadvantages of such arrangements. This initiative is distinct from currency swap agreements typically conducted by central banks.
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