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India, Japan ink record $75bn currency swap deal to stabilise rupee

Oct 30, 2018 13:12 IST

India on Monday signed a record 75 billion dollar currency swap deal with Japan, in an attempt to stabilise the rupee's slide in forex and capital markets. Finance Minister Arun Jaitley said the swap is 50 percent higher than the last arrangement. Under this agreement, India can acquire dollars from Japan in exchange for rupees.

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