CB negotiates another currency swap from India

News

The Central bank is currently negotiating a 400 million currency swap arrangement from India.

Central Bank Governor, Ajith Nirwad Cabral told the times online that there is a positive development in the negotiation for the currency swap for the next six months. The move was taken to increase decreasing foreign reserves in the country.

He said that if the swap is successful the currency would be used for state activities.

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