Jagran Josh Logo

RBI signed Special Currency Swap Agreement with the Central Bank of Sri Lanka

Mar 30, 2016 12:00 IST

The Reserve Bank of India (RBI) on 29 March 2016 signed a Special Currency Swap Agreement with the Central Bank of Sri Lanka.

Under the arrangement, the Central Bank of Sri Lanka can draw up to 700 million US dollars for a maximum period of three months. This special arrangement is in addition to the existing Framework on Currency Swap Arrangement for the SAARC Member Countries.

The proposal to extend the additional currency swap facility of 700 million US dollars to Sri Lanka for a limited period was decided with concurrence of the Union Government in March 2016 for short-term liquidity management in the context of India’s strong bilateral relations and economic ties with Sri Lanka.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes4 People Agreed
Read more Current Affairs on: RBI , Central Bank of Sri Lanka , Currency Swap Agreement ,

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

Newsletter Signup
Follow us on
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK