What the inking of the India-Sri Lanka currency deal means

currency-New Delhi, July 25: India has inked a currency deal with Sri Lanka and extended 400 million USD currency swap facility with Colombo. This was done to help Colombo tide over the economic crisis it is facing in the wake of COVID-19.

This deal inked between the Reserve Bank of India and Central Bank of Sri Lanka would help Colombo mitigate the risk of further fluctuations on the rates of interests from loans from India.

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