Brief

Japan and India have renewed their Bilateral Swap Arrangement (BSA) effective February 28, 2025. The Bank of Japan and the Reserve Bank of India (RBI) signed the second Amendment and Restatement Agreement, maintaining the swap size at $75 billion USD. The BSA allows both countries to exchange their local currencies for US dollars, strengthening financial cooperation and enhancing regional and global financial stability.

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Reserve Bank of India

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