Japan says it, India close to deciding dollar swap pact
Japan and India are in the final stages of deciding on a dollar swap agreement and expect to reach agreement during Japanese Prime Minister Yoshihiko Noda's visit to India this week
Japan and India are in the final stages of deciding on a dollar swap agreement and expect to reach agreement during Japanese Prime Minister Yoshihiko Noda's visit to India this week, Japan's finance minister said on Tuesday.
An earlier $3 billion arrangement came into force in 2008 but expired in June. The Nikkei business newspaper reported on on Sunday that the new one would be set at $10 billion.
Further financial cooperation as well as Japanese support for infrastructure in India will be a key focus at talks between the leaders of the two countries, Finance Minister Jun Azumi told a news conference.
Azumi also said he expects Japan's exports will pick up early next year if the European economy stabilises and currency levels reflect Japan's economic fundamentals.
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