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RBI signs $400 mn currency swap with Sri Lanka

The Reserve Bank of India (RBI) has recently signed an agreement for extending a $400-million currency swap facility to neighboring country Sri Lanka.

Tge deal was signed to boost the foreign reserves and ensure financial stability of the country, which is badly hit by the COVID-19 pandemic.

The RBI also offers similar swap lines to central banks in the SAARC region within a total corpus of around $2 billion.

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