The Maldivian government has welcomed India’s decision to roll over the INR 30 billion currency swap facility, expressing appreciation for India’s continued financial support and cooperation.
In a statement issued on Thursday, the Ministry of Foreign Affairs said the rollover covers the first withdrawal of INR 30 billion under the Indian rupee swap window of the bilateral currency swap agreement between the Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA).
The government described the decision as a reflection of the longstanding partnership between the two countries, built on historic ties of friendship, mutual respect, understanding and goodwill.
The statement also highlighted the administration’s commitment to strengthening relations with key bilateral partners, including India, and expanding cooperation in areas of mutual interest under President Dr Mohamed Muizzu.
The government further acknowledged India’s continued support under Prime Minister Narendra Modi’s ‘Neighbourhood First’ policy, reaffirming its commitment to strengthening bilateral relations for the mutual benefit of both countries.
India’s High Commission in Malé confirmed the rollover earlier on Thursday, stating that the initial INR 30 billion drawdown was extended to the Maldivian government on April 23, 2026.
The facility operates under the bilateral currency swap framework for 2024–2027, signed during President Muizzu’s state visit to India in October 2024. The arrangement provides financial support to help the Maldives manage foreign currency requirements and maintain financial stability.
The rollover extends the existing facility rather than necessarily providing additional funding. Neither government’s statement specified the revised maturity date or detailed financial terms of the extension.
