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Economic Times24.04.2026BusinessIndia

India Approves Rs 30 Billion Currency Swap for Maldives Under SAARC Framework

Drawdown reaffirms New Delhi's role as key financial partner; Maldives settles $400 million swap from October 2024

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India has approved a Rs 30 billion currency swap for the Maldives under the SAARC Currency Swap Framework, reaffirming New Delhi's role as a key financial partner.
The drawdown coincides with the Maldives settling a $400 million swap facility from October 2024.
The facility will support economic stability amid regional challenges, with India extending aggregate swap support worth $1.1 billion to the Maldives since 2012.

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India has approved a Rs 30 billion currency swap for the Maldives under the SAARC Currency Swap Framework, reaffirming New Delhi's role as a key financial partner. The drawdown coincides with the Maldives settling a $400 million swap facility from October 2024. The facility will support economic stability amid regional challenges, with India extending aggregate swap support worth $1.1 billion to the Maldives since 2012.

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