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    <title>PROPOSED INDO-JAPAN TREATY ON CURRENCY SWAP</title>
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    <description>A proposed bilateral currency swap between India and Japan would allow reciprocal exchanges of dollars for domestic currency to meet short term balance of payments liquidity needs, with an initial short maturity, interest payable on dollar amounts received, and a renewal mechanism permitting extensions up to a maximum duration. Separately, Japan has been approached for Official Development Assistance for a dedicated freight corridor project, with funding sources still under ministerial consideration.</description>
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