Memorandum of Understanding between Reserve Bank of India and Central Bank of United Arab Emirates on co-operation concerning currency swap agreement

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....emorandum of Understanding between Reserve Bank of India and Central Bank of United Arab Emirates on co-operation concerning currency swap agreement <br>News and Press Release<br>Dated:- 5-5-2016<br><....

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....BR>The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) signed in February, 2016 between Reserve Bank of In....

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....dia (RBI) and Central Bank of United Arab Emirates (UAE) on co-operation concerning currency swap agreement. The MoU commits that RBI and Central Bank of UAE will consider signing a bilateral Currenc....

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....y Swap Agreement on mutually agreed terms and conditions, after undertaking technical deliberations, subject to the concurrence of respective Governments. The MoU will further strengthen the close ec....

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....onomic relationship and cooperation between India and United Arab Emirates. The swap agreement is also expected to facilitate invoicing of bilateral trade in local currencies<BR> News - Press release ....

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....- PIB....