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  1. China
  2. USA
  3. Japan
  4. France
  5. Russia
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Option 3 : Japan

  • On 10 January 2019, the Union Cabinet approved the bilateral currency swap arrangement between India and Japan.
  • It authorised the Reserve Bank of India to sign the deal with the Bank of Japan for a maximum amount of $75 billion.
  • The arrangement will bring stability to foreign exchange and capital markets in India.
  • It will also help in maintaining an appropriate level of balance of payments.
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