India-Maldives currency swap: RBI’s $400 million support lifts FX reserves; Fitch cites easing of liquidity strain in rating note

India has welcomed the Maldives' improved foreign exchange reserves, acknowledging the significant role of the $400 million currency swap between the RBI and MMA in easing liquidity pressures. Fitch Ratings recognized India's critical support in bolstering the Maldives' reserves, alongside strong tourism and new forex regulations. Despite this, the Maldives faces ongoing fiscal and external challenges.

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