The Maldives and India have signed a currency swap agreement worth 300 Crore Rupees.

India and the Maldives have signed a 400$ million currency exchange agreement, improving relations that have soured for the past several months.
maldives

Maldives President Mohammed Muizzu along with Narendra Modi launched the card and made the first Transaction.

President Mohammed Muizzu, Who was on his first visit to India, signed Important agreements with India that will help Muizzu get out of foreign reserves and currency Many agreements were signed between India and Maldives. 

China is trying to break India’s influence in the maritime area and is creating a lot of problems. That’s why this agreement is very important for India. Not just Margadayas, but also with Sri Lanka, 10 crores of treasury bills have been rolled over.

The Prime Minister of India Narendra Modi and the President Mohammed Muizzu jointly launched the RuPay card and asked them to use it. The National Payment Corporation of India has ordered the implementation of the bilateral agreement between the two of them, who witnessed the first transaction. Forgetting the country’s political controversies, decided to further enhance bilateral relations

India-Maldives ties: Ties between India and Maldives have hit a new low after Maldivian President Mohamed Mueang has formally requested New Delhi to withdraw its military personnel from the island nation by March 15, 2024.

 The move comes a day after Mueang returned from India’s regional rival China and criticised India. Tensions between India and the Maldives have been rising since Mueang came to power in September on a campaign to reduce India’s influence on the island. 

Mueang is known to share close ties with China. Both India and China alternately compete for influence in the small island nation, investing heavily in upgrading the Maldives’ infrastructure and providing it with loans.

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