Last November, the RBI decided, with the agreement of the GOI, to put in place a revised framework for the swap arrangement for the period 2019-2022 for ASARC countries, with the aim of promoting financial stability and economic cooperation in the SAARC region. Themes: Bangladesh • Bhutan • Currency swap • Maldives • RBI • Reserve Bank of India • Rupee • SAARC • Srilanka • US Dollars The EU Cabinet has approved India`s foreign exchange agreement with Japan. The $75 billion bilateral currency exchange agreement is a milestone in mutual economic cooperation and the specific strategic and global partnership between two countries. Currency swap agreements A currency swap agreement is an exchange agreement between two parties to exchange a certain amount of a currency for it.