• Last Update 2024-07-19 16:40:00

CB gets $400 mln under currency swap with Reserve Bank of India

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The currency swap agreement between the two Central Banks of Sri Lanka and India signed on March 25 became effective with US$400 million released to Sri Lanka’s Central Bank (CB) by India’s Reserve Bank of India on April 30, the CB said on Wednesday. This follows the recent visit by Indian Prime Minister Narendra Modi where he announced that announced that the Reserve Bank of India would extend a currency swap facility amounting to $1.5 billion to the CB. The balance amount is expected to be made available in due course.  

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