AGL 37.76 Decreased By ▼ -0.39 (-1.02%)
AIRLINK 129.15 Increased By ▲ 4.08 (3.26%)
BOP 7.42 Increased By ▲ 0.57 (8.32%)
CNERGY 4.62 Increased By ▲ 0.17 (3.82%)
DCL 8.53 Increased By ▲ 0.62 (7.84%)
DFML 38.70 Increased By ▲ 1.36 (3.64%)
DGKC 81.05 Increased By ▲ 3.28 (4.22%)
FCCL 32.50 Increased By ▲ 1.92 (6.28%)
FFBL 74.99 Increased By ▲ 6.13 (8.9%)
FFL 12.36 Increased By ▲ 0.50 (4.22%)
HUBC 108.90 Increased By ▲ 4.40 (4.21%)
HUMNL 13.93 Increased By ▲ 0.44 (3.26%)
KEL 5.01 Increased By ▲ 0.36 (7.74%)
KOSM 7.59 Increased By ▲ 0.42 (5.86%)
MLCF 38.45 Increased By ▲ 2.01 (5.52%)
NBP 72.27 Increased By ▲ 6.35 (9.63%)
OGDC 186.99 Increased By ▲ 7.46 (4.16%)
PAEL 25.40 Increased By ▲ 0.97 (3.97%)
PIBTL 7.30 Increased By ▲ 0.15 (2.1%)
PPL 150.65 Increased By ▲ 6.95 (4.84%)
PRL 25.25 Increased By ▲ 0.93 (3.82%)
PTC 17.37 Increased By ▲ 0.97 (5.91%)
SEARL 81.82 Increased By ▲ 3.25 (4.14%)
TELE 7.57 Increased By ▲ 0.35 (4.85%)
TOMCL 32.75 Increased By ▲ 0.78 (2.44%)
TPLP 8.46 Increased By ▲ 0.33 (4.06%)
TREET 16.30 Increased By ▲ 0.17 (1.05%)
TRG 56.24 Increased By ▲ 1.58 (2.89%)
UNITY 28.39 Increased By ▲ 0.89 (3.24%)
WTL 1.33 Increased By ▲ 0.04 (3.1%)
BR100 10,540 Increased By 451 (4.47%)
BR30 30,957 Increased By 1448.1 (4.91%)
KSE100 98,280 Increased By 3705.6 (3.92%)
KSE30 30,652 Increased By 1207.6 (4.1%)

Japan and India agreed on Friday to set up a $6 billion bilateral currency swap facility to ward off any future financial crisis, Japanese media reported.
Japanese Finance Minister Fukushiro Nukaga and his Indian counterpart Palaniappan Chidambaram met in New Delhi on Friday to confirm the framework and the two nations would launch the facility in the spring, Kyodo news agency quoted Japanese officials as saying in New Delhi.
The idea is to allow a country that finds itself with short-term liquidity problems to borrow from its partners' foreign reserves to absorb heavy selling pressure on its currency. Under the framework, Japan would swap up to $3 billion for Indian rupee to prevent any currency crisis in India. India would swap up to $3 billion for yen if Japan were in trouble, Japanese media reported.
The two countries agreed on a basic framework for a currency swap deal in August, but the size of the facility and the timing of its launch were not finalised then. Nukaga and Chidambaram also agreed that the two countries will hold working-level talks twice a year to examine each other's macroeconomic conditions, Japanese media reported.

Copyright Reuters, 2008

Comments

Comments are closed.