Reserve Bank signs $ 400 million currency swap agreement with Sri Lanka

Reserve Bank of India (RBI) signed a $ 400 million currency swap agreement with Sri Lanka. This exchange will help in increasing foreign exchange reserves and ensure the country’s financial stability. The financial stability was in a bad state due to Covid-19 pandemic. This currency swap agreement will be valid till November 2022. Sri Lanka has signed a $ 400 million currency swap agreement with the RBI under the framework of the South Asian Association for Regional Cooperation (SAARC).

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