The High Commission of India in the Maldives has described the approval of the INR 30 billion currency swap rollover as a symbol of the close relationship between the two countries.
In statements accompanying the announcement, the mission noted that the decision was taken to assist the Maldivian government and people. It linked the support to India’s Neighbourhood First policy and the SAARC currency swap framework.
The facility was originally provided under the 2024–2027 arrangement signed during President Muizzu’s visit to India. The High Commission has previously highlighted cumulative swap support exceeding USD 1.1 billion since 2012, along with other financial instruments such as Treasury bond subscriptions.
Officials from both sides have regularly referred to economic cooperation as a pillar of bilateral relations. The latest extension was confirmed on Friday through a press release from the High Commission.
No additional new financial commitments beyond the rollover were detailed in the statement.
