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RBI signs documents to extend $400 mn currency swap facility to Sri Lanka

The currency swap arrangement will remain available till November 2022, the Indian mission said in a press release

RBI
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In May, President Gotabaya Rajapaksa made an additional request to India for a special $1.1 billion currency swap facility

Press Trust of India Colombo
The Reserve Bank of India has signed necessary documents for extending a $400 million currency swap facility to Sri Lanka to boost the island nation's draining foreign exchange reserves due to the coronavirus pandemic, the Indian High Commission here said on Saturday.

The currency swap arrangement will remain available till November 2022, the Indian mission said in a press release.

Sri Lanka in April said it was set to enter into an agreement with the RBI for a currency swap worth $400 million under the South Asian Association for Regional Cooperation (SAARC) framework to boost the foreign reserves and ensure

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First Published: Jul 25 2020 | 3:42 PM IST

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