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Japan To Unveil India FX Deal

News follows currency arrangement with China announced earlier this week.

By Kyoko Shimodoi and Unni Krishnan, Bloomberg | Updated on December 27, 2011

Japan is poised to unveil a currency-swap line with India in its second international financial agreement with top Asian powers this week.

Finance Minister Jun Azumi told reporters today in Tokyo that Japan is negotiating an agreement with India, the third-largest economy in Asia behind China and Japan. The deal is likely to be unveiled during a trip by Prime Minister Yoshihiko Noda to India that starts today, with the amount of the swap line about $10 billion, a Japanese government official said on condition of anonymity.

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