The Reserve Bank of India (RBI) on March 02, 2026, notified regarding the renewal of the Bilateral Swap Arrangement between Japan and India.
India and Japan have renewed their Bilateral Swap Arrangement (BSA) effective from February 28, 2026. The agreement was signed between the Bank of Japan (acting on behalf of Japan’s Ministry of Finance) and the Reserve Bank of India through the Third Amendment and Restatement Agreement.
The BSA is a two-way currency swap arrangement that allows both countries to exchange their local currencies for US Dollars. The total swap size remains unchanged at up to USD 75 billion.
[Press Release: 2025-2026/2195]
