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of <h1>Bank of Japan and Reserve Bank of India Sign USD 15 Billion Bilateral Swap Agreement for Enhanced Financial Cooperation.</h1> The Bank of Japan and the Reserve Bank of India have signed a Bilateral Swap Arrangement, effective December 4, 2012, allowing currency swaps up to USD 15 billion between the Japanese yen or Indian rupee and the US dollar. This agreement, an extension of a previous USD 3 billion arrangement, aims to address short-term liquidity issues and enhance financial cooperation between Japan and India. The arrangement can be activated with an existing or anticipated IMF-support program, with up to 20% of the amount available without such a program. The agreement is valid for three years.
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