Sri Lanka signs USD1.1Bn currency swap agreement with India

SWAP

July 17, 2015 (LBO) – Sri Lanka’s Central Bank on Friday signed the 1.1 billion US dollars worth currency swap agreement with Indian Reserve Bank in New Delhi.

The Central Bank releasing a statement said this new facility will allow the Bank to further strengthen its position in the financial market and bring greater stability to the exchange rate.

This is in addition to the 400 million US dollars made available to the Central Bank in April 2015 under the financing facility for South Asian Association for Regional Cooperation (SAARC) member country Central Banks.

“This facility will further enhance the economic cooperation between the two institutions and strengthen the long standing relationship between two countries.” the Bank further said.