Current Affairs - Economy - Discussion

Maldives is the country receiving India's ₹3,000 crore currency swap rollover to strengthen its financial stability. The arrangement is being implemented under the Framework on Currency Swap Arrangement for SAARC countries for 2024–27. The agreement was signed between the Reserve Bank of India (RBI) and the Maldives Monetary Authority, which serves as the central bank of the Maldives. The underlying arrangement was formalised in October 2024, and the initial drawdown was extended on April 23, 2026. India has provided more than USD 1.1 billion in cumulative currency swap assistance to the Maldives since 2012. This support reflects India's commitment to regional financial cooperation and stability.