Search Result for : Central Bank Of Sri Lanka

The Dollar Business Bureau The Reserve Bank of India (RBI) on Friday signed a special currency swap agreement with the Central Bank of Sri Lanka. The move is aimed at evading any impact of possible volatility in foreign exchange on the bilateral trade. The new agreement which will be valid for six months is in addition to the existing framework on currency swap arrangement for the member countries of SAARC (South Asian Association for Regional Cooperation), RBI said in a statement. As per the agreement, the Central Bank of Sri Lanka can draw up to USD 1.1 billion from RBI for a period of six months. In March this year, the Reserve Bank had already signed a currency swap agreement with the ...

 The Dollar Business Bureau The Prime Minister of India, Narendra Modi, on Friday said the economic ties form a key pillar for a strong relation between India and Sri Lanka. Addressing media in Colombo during his visit to the island nation, the Indian Prime Minister shared India’s commitment towards effective enhancement of trade cooperation with Sri Lanka. Narendra Modi informed that the customs authorities of India and Sri Lanka came to an agreement on Friday, while expressing hope that the move will simplify trade and remove non-tariff barriers between the two economies. Modi further informed that Lanka IOC, Indian Oil’s subsidiary in Sri Lanka, and Ceylon Petroleum Corporation, have also agreed to develop Upper Tank Farm of the China Bay ...