New Delhi, Oct. 16 -- India announced on Friday its decision to execute the first rollover of the INR 3,000 crore currency swap arrangement with the Maldives, commencing October 23, following a formal request from the Maldivian administration.

Addressing the media, Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal emphasised that the initiative reinforces bilateral development cooperation and bolsters economic resilience.

"We have a close development cooperation partnership with the Maldives. At the request of the Government of Maldives, we have decided that we will carry out the first rollover of the INR 3,000 crore currency swap with effect from 23 October 2026," Jaiswal stated.

The spokesperson further noted that the u...