The Central Bank of Sri Lanka (CBSL) and the Reserve Bank of India signed a currency swap agreement in New Delhi on Friday enabling Sri Lanka to draw USD 1.1 billion.
This is in addition to the USD 400 mn made available to the Central Bank of Sri Lanka in April 2015 under the financing facility for South Asian Association for Regional Cooperation (SAARC) member country Central Banks.
This new facility will allow the Central Bank to further strengthen its position in the financial market and bring greater stability to the exchange rate. Extended swap facility is the direct result of the goodwill gesture extended by Narendra Modi, Prime Minister of India consequent to his visit to Sri Lanka on March 14, 2015.
This facility will further enhance the economic cooperation between the two institutions and strengthen the long standing relationship between two countries.
www.dailynews.lk
This is in addition to the USD 400 mn made available to the Central Bank of Sri Lanka in April 2015 under the financing facility for South Asian Association for Regional Cooperation (SAARC) member country Central Banks.
This new facility will allow the Central Bank to further strengthen its position in the financial market and bring greater stability to the exchange rate. Extended swap facility is the direct result of the goodwill gesture extended by Narendra Modi, Prime Minister of India consequent to his visit to Sri Lanka on March 14, 2015.
This facility will further enhance the economic cooperation between the two institutions and strengthen the long standing relationship between two countries.
www.dailynews.lk
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