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    December 28, 2011

Japan to Help India Prop Up Rupee

   VOA News
   India's Prime Minister Manmohan Singh (R) speaks during a joint news
   conference as his Japanese counterpart Yoshihiko Noda looks on after
   their meeting in New Delhi, December 28, 2011.
   Photo: Reuters
   India's Prime Minister Manmohan Singh (R) speaks during a joint news
   conference as his Japanese counterpart Yoshihiko Noda looks on after
   their meeting in New Delhi, December 28, 2011.

   Japan has agreed to help provide some relief for India's troubled
   currency.
   Officials say Japanese Prime Minister Yoshihiko Noda agreed to a
   $15-billion currency swap arrangement with New Delhi during a visit
   there Wednesday. The deal is expected to help stabilize the value of
   the Indian rupee, which has been losing value and is one of Asia's
   worst-performing currencies.
   Japan's Kyodo news agency also says the two leaders agreed their
   countries would conduct joint naval exercises next year.
   Noda is in India for two days of meetings with Indian officials.
   Indian Prime Minister Manmohan Singh welcomed Noda earlier Wednesday
   with a colorful ceremonial reception at the majestic red sandstone
   presidential palace.
   Prior to the meeting, Noda had said Japan was looking to strengthen
   relations with India in various fields, including economics and
   security

   Some information for this report was provided by Reuters.

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