What is the agreement between the Central Bank of Sri Lanka and the Reserve Bank Of India(RBI)?
What is currency swap agreement?
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What is the agreement between the Central Bank of Sri Lanka and the Reserve Bank Of India(RBI)?
Sakshi
An agreement to expand a $400 million currency swap facility to Sri Lanka has been signed by the Reserve Bank of India. In June 2020, the forex reserves of Sri Lanka stood at $ 6.7 billion (India’s forex reserves stood at a record high of $ 517.63 billion as of 17 July 2020).
This agreement, which is valid till 13 November 2022, was signed under the Currency Swap System 2019-22 of the South Asian Association for Regional Cooperation (SAARC).