India approves Rs 30 billion swap for Maldives after settling a massive $400 million deal

The smaller new swap follows closure of

India has approved a Rs 30 billion currency swap for the Maldives, reinforcing New Delhi’s financial role in the region. The Maldives also completed settlement of an earlier $400 million swap, and the fresh facility is expected to bolster economic stability amid ongoing regional pressures, while deepening ties through continued financial cooperation.