Business Daily from THE HINDU group of publications
Wednesday, Jul 02, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 02, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex RBI, Bank of Japan in pact Our Bureau Mumbai, July 1 The Bank of Japan (BOJ) and the Reserve Bank of India (RBI) signed a bilateral swap arrangement, which enables both countries to swap their local currencies against the US dollar up to an amount of $3 billion. According to a press release from the RBI, the agreement was signed by BOJ Governor, Mr Masaaki Shirakawa and RBI Governor, Mr Y.V. Reddy in Basel, Switzerland and became effective as of June 29, 2008. The arrangement aims at addressing short-term liquidity difficulties and supplementing the existing international financial arrangements, as one of the efforts in strengthening mutual cooperation between Japan and India, said the release. More Stories on : Forex | Foreign Banks
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