Sri Lanka will enter into the agreement with the RBI for a Bilateral Currency Swap Arrangement worth $400 mn, the facility from the RBI is aimed at boosting the island nation's foreign reserves COLOMBO : Sri Lanka is set to enter into an agreement with the Reserve Bank of India for a currency swap worth $400 million to boost the foreign reserves and ensure the financial stability of the country which is badly hit by the COVID-19 pandemic, a top minister has said.
The Cabinet has approved a proposal made by Prime Minister Mahinda Rajapaksa as the Finance Minister to enter into an agreement with the RBI for the financing facility to meet short-term international liquidity requirements, Co-Cabinet spokesman Information and Communication