Japan and India $6 billion swap deal

Japan and India agreed on $6 billion currency swap deal to prevent possible future financial crisis. In Naí Dillí, ministers from both countries confirmed the scope of the operation and the swap date to be this spring. This operation make India possible in time of lack of liquidity to draw from japan foreign exchange reserves to rule the pressure, which could occur with selling the India Rupia. India will be able to change its own Rupia in Japan for $3 billion and the same price for Japan in India's, if needed. The main agreement on swap entered both representatives in august last year. At that time, there was still an open topic about the volume of transaction and the date, when the deal will take effect.

Nukaga and Chidambaram also agreed they will meet each other twice a year to review macro economical conditions in their countries.