RBI extends Sri Lanka US$1.1bn swap deal

ECONOMYNEXT – Reserve Bank of India has agreed to extend the 1.1 billion US dollar swap deal with Sri Lanka’s central bank which was to expire in March 2016, Finance Minister Ravi Karunanayake said.

The deal has been extended for one year, Karunanayake told a news conference.

Inflows of dollars currently being received by the island will help support the rupee, Karunanayake said.

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