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RBI signs Currency Swap Facility with Sri Lanka

Published on July 27, 2020
Current Context: The Reserve Bank of India has signed an agreement of USD 400 million currency swap facility with Sri Lanka.
RBI signs Currency Swap Facility with Sri Lanka
  • The currency swap facility agreement will be valid until November 2022.
  • The agreement is signed to help Sri Lanka to meet with its short-term international liquidity requirements.
  • The foreign exchange reserves will also be boosted for Sri Lanka which declined due to the COVID-19 in the country.
  • The currency swap agreement was signed under the South Asian Association for Regional Cooperation (SAARC).
  • Static Part: 
    • HQ of RBI: Mumbai
    • Governor of RBI: Shaktikanta Das 
    • Capital of Sri Lanka: Sri Jayewardenepura Kotte
    • Currency of Sri Lanka: Sri Lankan Rupee

Question: 

Q.1 RBI signed a currency swap agreement with which country?
a. Sri Lanka
b. Myanmar
c. Nepal
d. Bhutan

Q.2 The Reserve Bank of India has signed an agreement of USD ___million currency swap facility with Sri Lanka?
a. USD 500 million 
b. USD 300 million
c. USD 450 million
d. USD 400 million
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