Government has extended currency swap facility for SAARC members

Q.  Currency swap facility has been extended by the Government for which international body’s members?
- Published on 19 Nov 15

a. G20
b. SAARC
c. ASEAN
d. None of the above

ANSWER: SAARC
 
This is under the scheme where RBI offers the facility of varying sizes not exceeding USD 2 billion in total. The decision was taken by the Union Cabinet which will provide a two year extension with amendments to the framework on 'Currency Swap Arrangement' for SAARC member countries up to November 14, 2017, and extension thereafter, if necessary, by Finance Minister.

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