Reserve Bank of India (RBI) and Bank of Japan (BOJ) has signed a bilateral swap arrangement (BSA) on Monday. The BSA was signed by BOJ governor Masaaki Shirakawa and RBI governor Yaga Venugopal Reddy in Basel, Switzerland. It will pave a way for swapping local currencies against the US dollar for up to $3 billion. The agreement will also sort out problem of short-term liquidity and strengthen existing international financial arrangements

The agreement was come into effect on Sunday (June 29). Both Japan and India can now swap Yen and rupee against the US dollar up to $3 billion. They will hold biannual consultations on economic and financial conditions of each country with the BSA in effect.

Kuala Lumpur - Japanese wireless toy manufacturing company Nikko Electronics shut down its operati

The Reserve Bank of India and Bank of Japan have clinched a bilateral swap

Tokyo - Japan is facing serious risk from climate change, and its prime minister should push world leaders at the G8 summit it hosts next week to reduce global emissions within 15 years, the World

Tokyo  - Tokyo stocks opened higher Tuesday on a better-than-expected Tankan business sentiment survey.

The Nikkei 225 Stock Average gained 45.15 points, or 0.33 per cent, to 13,526.53.