Current Affairs - National - Discussion

Prime Minister Narendra Modi visited Japan on October 28-29, 2018 to attend the India-Japan Annual Summit with the Japanese Prime Minister Shinzo Abe. After the summit, the two sides exchanged 32 MoUs or agreements including USD 75 billion currency swap agreement and agreed to '2+2' dialogue. Japan and India entered into a USD 75 billion currency swap agreement that will boost Indian economy as it encounters a steep drop in the rupee's value. This swap arrangement would be 50 percent higher than the previous swap agreement. Japan had offered a USD 50 billion currency swap in 2013.