World Economy

Currency Swap Facility

Currency Swap FacilityCurrency Swap Facility

The Reserve Bank of India has entered into currency swap agreement with Sri Lankan central bank for $1.5b, a measure that will help keep the Sri Lankan rupee stable, even as the two countries signed a host of other agreements to boost bilateral cooperation, PTI reported. Visiting Prime Minister Narendra Modi announced the currency swap agreement after meeting Sri Lankan President Maithripala Sirisena.