Japan, India renew bilateral swap agreement

The size of the BSA remains unchanged at $75b.

Japan and India have renewed their bilateral swap agreement (BSA) effective 28 February 2025.

The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the second amendment and restatement agreement of the BSA.

The BSA is a two-way arrangement where both authorities can swap their local currencies in exchange for the US Dollar. The size of the BSA remains unchanged, that is, up to US$75b.

In a statement, the RBI said that both nations believe that the BSA will further deepen financial cooperation between the two countries and contribute to regional and global financial stability.

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