Tuesday, December 27, 2011

Japanese PM Noda in India on economic mission

[ via Channel News Asia ] 27 Dec

Japanese Prime Minister Yoshihiko Noda arrived in New Delhi on Tuesday, for a visit that is expected to unveil a currency swap deal and reopen talks on a civil nuclear pact.

Coming hard on the heels of a trip to China where the main talking points were geopolitical - particularly in the aftermath of the death of North Korean leader Kim Jong-Il - Noda's visit to India will be heavy on business.

In a meeting Wednesday with Indian counterpart Manmohan Singh, the two are expected to sign a dollar-swap accord worth up to $10 billion, through which Tokyo would provide capital when the rupee falls against the US unit.

It may be added that the Indian rupee has plunged about 15 percent against the dollar this year, making it the worst performing currency in Asia.


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