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RBI signs Currency Swap Agreement with Royal Monetary Authority of Bhutan
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....BI signs Currency Swap Agreement with Royal Monetary Authority of Bhutan <br>News and Press Release<br>Dated:- 8-3-2013<br><BR>The Reserve Bank of India has today signed the first Currency Swap Agreem....
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....ent with the Royal Monetary Authority of Bhutan. The Royal Monetary Authority of Bhutan can make drawals of US Dollar, Euro or Indian Rupee in multiple tranches up to a maximum of US$ 100 million or i....
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....ts equivalent. This is expected to further economic co-operation between the two countries. The agreement is valid for a period of three years from the date of signing. It may be recalled that in Ma....
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....y 2012, Governor Dr. D. Subbarao had announced in the SAARCFINANCE Governors' meeting, held in Pokhara, Nepal, that the Reserve Bank of India would offer swap facilities aggregating US$ 2 billion, bot....
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....h in foreign currency and Indian Rupee to our neighbouring countries of the SAARC region. The facility is available to all SAARC member countries, viz., Afghanistan, Bangladesh, Bhutan, Maldives, Nepa....
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....l, Pakistan and Sri Lanka. The swap arrangement is intended to provide a backstop line of funding for the SAARC member countries to meet any balance of payments and liquidity crises till longer term a....
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....rrangements are made or if there is need for short-term liquidity due to market turbulence. The arrangement will also further financial stability in the region. R. R. Sinha Deputy General Manager P....
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....ress Release: 2012-2013/1506<BR> News - Press release - PIB....