Central Bank of Sri Lanka Looks Forward to Expanding U.S. Currency Swap with Reserve Bank of India
Posted on 10/03/2020
The Central Bank of Sri Lanka is the monetary authority of Sri Lanka. The central bank is looking forward to a US$ 1 billion currency swap increase with the Reserve Bank of India that is intended to enhance the country’s foreign reserves. In July 2020, the Reserve Bank of India created a US$ 400 million swap with the Central Bank of Sri Lanka. The currency swap arrangement will remain available till November 2022.
Sri Lanka has been impacted hard by the global lockdown caused by the Wuhan coronavirus (COVID-19), especially its tourism sector. Before COVID-19, Sri Lanka was impacted by the deadly Easter Sunday attacks that killed over 250 people. Sri Lanka has officially reported only 13 deaths attributed to the coronavirus.