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Maldives Monetary Authority (MMA) has taken out a USD 400 million currency swap from Reserve Bank of India (RBI) to improve Maldives' foreign currency reserves.
Earlier last month during President Dr Mohamed Muizzu's state visit to India, both countries exchanged documents for a USD 750 million currency swap. This includes a USD 400 million swap facility and a MVR 30 billion swap facility.
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