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SAARC Currency Swap Framework for 2024-2027
July 2 , 2024
16 days
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- The RBI and Indian Government has decided to put in place a revised Framework on Currency Swap Arrangement for SAARC countries for the period 2024 to 2027.
- Under this Framework, the RBI would enter into bilateral swap agreements with SAARC central banks, who want to avail of the swap facility.
- It may be recalled the SAARC Currency Swap Facility came into operation on November 15, 2012.
- Under the Framework for 2024-27, a separate INR Swap Window has been introduced with various concessions for swap support in Indian Rupee.
- The total corpus of the Rupee support is Rs 250 billion.
- The RBI will continue to offer swap arrangement in US$ and Euro under a separate US Dollar/ Euro Swap Window with an overall corpus of US$ 2 billion.
- The Currency Swap Facility will be available to all SAARC member countries, subject to their signing the bilateral swap agreements.
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