The Maldives has thanked India for extending the first withdrawal of ₹30 billion under the Indian rupee currency swap agreement. Maldivian Foreign Minister Iruthisham Adam expressed her gratitude to External Affairs Minister Dr. S. Jaishankar and the Indian government for the decision.
In a post on X, Adam said the move reflects the long-standing friendship between India and the Maldives, built on mutual respect, understanding, and goodwill.
India approved the Maldives government’s request to extend the ₹30 billion currency swap facility under its ‘Neighbourhood First’ policy, reaffirming its commitment to strengthening ties with the island nation.
The agreement was signed between the Reserve Bank of India and the Maldives Monetary Authority during Maldivian President Mohamed Muizzu’s state visit to India in October 2024. The first ₹30 billion withdrawal was provided to the Maldives on April 23, 2026.
The currency swap facility helps the Maldives access Indian rupees to manage liquidity needs and maintain financial stability. The move also highlights India’s continued financial support for its strategically important neighbour in the Indian Ocean.
