Task Force on local currency swap to meet tomorrow

September 10, 2013 07:45 pm | Updated June 02, 2016 10:55 am IST - NEW DELHI

Following the successful $50 billion currency swap agreement with Japan, a task force set up to identify key trading nations for local currency swap arrangement by the Commerce Ministry will meet on Wednesday, and deliberate on how to take forward the issue of shortlisting countries.

The task force, comprising officials from the Finance and Commerce Ministries, Reserve Bank of India (RBI), State Bank of India and industry bodies such as FICCI and CII, will put their heads together to explore the possibility of currency swap agreements with the main trading partners of India. It would also look into the mechanism for trading of goods in local currencies.

“The task force will meet tomorrow and deliberate on a possible mechanism for trading of goods in local currencies,’’ a Commerce Ministry official said here.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.