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400 million dollars Currency Swap Facility for Sri Lanka by RBI

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Currency Swap Facility for Sri Lanka

  • Reserve Bank of India (RBI) has decided to provide USD 400 million currency swap facility for Sri Lanka . however, this facility will be valid till November 2022. due to this, Sri Lanka will meet with its short-term international liquidity requirements and will help to increase its foreign exchange reserves following the economic crisis resulting from COVID-19 Disease.

Points to Remember

  • At recent, A “technical discussion” has been held btetween India and Sri Lanka for scheduling of the bilateral debt repayment.
  • Also, there will be anthor round of technical discussions between bothe of nations, that will be held soon.

About Sri Lanka
Capital – Colombo, Sri Jayawardenepura Kotte
Currency– Sri Lankan Rupee
President– Gotabaya Rajapaksa 
Prime Minister– Mahinda Rajapaksa 

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