What is SAARC Currency Swap Framework?: A Currency Swap Framework is an agreement in which two parties exchange the principal amount of a loan and the interest in one currency for the principal and interest in another currency for the US Dollar. SAARC Currency Swap Framework is relevant for both UPSC Prelims and Mains.
SAARC Currency Swap Framework covers both Economy Section and IR section. It covers – GS 2: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests. It also covers – GS 3: Economy.
Also Read:
Also Read:
RBI Launched Retail Central Bank Digital Currency (CBDC) on Pilot Basis
Also Read:
List of Important International Organizations and their Headquarters
Also Read:
How BIMSTEC Can Build a New South Asian Regional Order?: The Hindu Editorial Analysis
Q. Who are SAARC Members?
Ans. Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka are part of SAARC grouping.
Q. When SAARC Currency Swap Framework came into operation?
Ans. The SAARC Currency Swap Framework came into operation on November 15, 2012.
Q. What is a currency Swap Framework?
Ans. A currency Swap Framework between countries is an agreement to exchange currencies with predetermined terms and conditions.
Q. What is Bilateral Swap Arrangement?
Ans. Bilateral Swap Arrangement(BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US Dollar.
Recent IR Articles:
Recent Economy Current Affairs:
The BPSC Exam Notification 2024 is expected to be released soon on the BPSC official…
The UPPSC RO ARO Exam Date 2024 for prelims has been announced by the Uttar…
The CSIR CASE SO ASO Stage 2 exam date has been announced by the commission.…
The UPSC EPFO PA Exam Centre 2024 for the Personal Assistant post will be assigned…
The Union Public Service Commission (UPSC) has released the EPFO Exam Date 2024 on its…
The UPSC EPFO Personal Assistant Exam date 2024 has been released by the Union Public…