India has decided to roll over a 30 billion rupee currency swap facility following a request from the Maldives government.
The arrangement helps manage short-term foreign exchange needs amid ongoing pressures on reserves. Official details on the exact terms and duration were not immediately released.
Maldives has previously used currency swaps and other financing from India and other partners. Recent statements from officials have noted low reserves with expectations of improvement in coming months.
The rollover comes as the country continues discussions on larger development projects and fiscal management.