October 29, 2018 / 11:07 AM / 21 days ago

India, Japan sign $75 billion currency swap agreement

Indian Prime Minister Narendra Modi talks with Japan's Prime Minister Shinzo Abe during their meeting at Abe's official residence,Tokyo, Japan October 29, 2018. Koji Sasahara/Pool via Reuters

NEW DELHI (Reuters) - India and Japan have signed a $75 billion bilateral currency swap agreement on Monday during Prime Minister Narendra Modi’s visit to Tokyo, India said in a statement.

The agreement should help bring greater stability to foreign exchange and capital markets in India, the statement added.

Reporting by Manoj Kumar, Editing by Sherry Jacob-Phillips

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