India and Japan sign new $15B currency swap agreement
http://www.bbc.co.uk/news/business-16351065
India and Japan have signed a $15bn (£9.7bn) currency swap agreement as the two nations seek to boost financial co-operation.
It will see them swap currencies for US dollars and tap into each other’s foreign exchange reserves to ease any liquidity problems.
The pact is expected to boost the Indian rupee which has been Asia worst performing currency this year.
The Japanese yen has also been volatile in wake of an uncertain global outlook.
“Amid global economic uncertainties, ensuring the stability of the financial markets is all the more important for the stable economic development of the two countries,” Japanese prime minister Yoshihiko Noda and Indian prime minister Manmohan Singh said in a joint statement after their meeting in New Delhi.
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“swap currencies for US dollars and tap into each other’s foreign exchange reserves to ease any liquidity problems”
expecting something?
is this a good thing for the USD? the fact that its being used? or is it more bad news?
401
Is that a Masonic handshake I detect in the photo? If so, it says much about who may be approving this deal.
Gee it looks like one. Bent thumb.
Seek…Not to change the subject, but I heard there was a 7.0 earthquake in Japan from ATS…any word about that in Australia?
Yeah heard that yesterday. A 7 near fuku area.
Fukushima Diary reported a water leak in reactor 4
& a commenter there had this link: http://flyingcuttlefish.wordpress.com/2012/01/01/breaking-7-0-quake-hits-southern-japan/, which reports also a 4.0 earthquake in NE Ohio, they admit is caused by fracking; I believe that is the highest admitted to for a man made quake, I cannot recall anything over a 2-3 previously, and those were for geothermal drillling.
good point..also christchurch was rocking badly again
this almost reminds me of a russell peters routine…
but anyway.. it’s about time these two countries dumped the USD, but since both of their countries use rothschild money, does it really matter?
remember, singh is under the control of opus dei – he is the highest ranking member of sonia ghandi’s congress party. and japan has been under masoic control since the 1800s. so, that handshake is no surprise.
Got a Rahul Gandhi post coming up.
Jct: I just love it when countries start to realize it’s smarter to accept each others’ chips than use yankee ones. So China and Japan yesterday, Japan and India today. How about the whole BRICT next, Brazil ussia India China Turkey joining with Japan.
Hey you added turkey to bric!