header logo
සිංහලதமிழ்
Vallibel FD
vallible LE
Latest
Sri Lanka inks USD 1.5 billion currency swap agreement with China
Mar 23, 202111:04 AM
Google NewsAdd on Google
Sri Lanka inks USD 1.5 billion currency swap agreement with China
Mobitel inner 1278

The Central Bank of Sri Lanka (CBSL) and the People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement with a view to promoting bilateral trade and direct investment for economic development of the two countries, and to be used for other purposes agreed upon by both parties.

 

The People’s Republic of China remains Sri Lanka’s largest source of imports; in 2020, imports from China amounted to US$ 3.6 billion (22.3% of Sri Lanka’s imports), the Central Bank said in its statement.

 

This swap agreement has been approved by the Cabinet of Ministers with the recommendation of the Monetary Board of Central Bank.

 

CBSL Governor Deshamanya Professor W.D. Lakshman and PBoC Governor Dr. Yi Gang are the signatories to the agreement.

 

Under this agreement, the Central Bank is entitled for a swap facility amounting to CNY 10 billion (approximately US$ 1.5 billion).

 

The agreement is valid for a period of three (3) years, the statement read further.

 

 

 

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them (mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Comments

0
Comments are disabled

Note: Due to legal constraints, the Ada Derana Editorial team has taken a decision to disable comments on all articles concerning ongoing court procedures.

MostRead
Mobitel 1278
VideoStories
No fuel price revision for November? Public turns to social media amid shortage of LP gas

No fuel price revision for November? Public turns to social media amid shortage of LP gas

Sri Lanka's tax arrears near Rs. 2.1 trillion IMF calls for reforms citing collection challenges

Sri Lanka's tax arrears near Rs. 2.1 trillion IMF calls for reforms citing collection challenges

Policymakers must ensure equal access to AI - SCU Vice-Chancellor Prof. Tyrone Carlin on Hyde Park

Policymakers must ensure equal access to AI - SCU Vice-Chancellor Prof. Tyrone Carlin on Hyde Park

Courts must be independent and ensure governments act within the law - SC Justice Yasantha Kodagoda

Courts must be independent and ensure governments act within the law - SC Justice Yasantha Kodagoda

Taxpayer Identification Number to be mandatory for certain transactions from Nov. 1

Taxpayer Identification Number to be mandatory for certain transactions from Nov. 1

16-year-old hospitalised with gunshot wounds after police fire on three-wheeler in Kadawatha

16-year-old hospitalised with gunshot wounds after police fire on three-wheeler in Kadawatha

'Kassapa Thero and I visited the hotel on separate days'- Sarath Weerasekara responds to controversy

'Kassapa Thero and I visited the hotel on separate days'- Sarath Weerasekara responds to controversy

Litro Gas orders 44,000MT of LPG for November to meet increased demand

Litro Gas orders 44,000MT of LPG for November to meet increased demand

Opposition Leader visits Lunugamvehera to assess human-elephant conflict

Opposition Leader visits Lunugamvehera to assess human-elephant conflict

Suspected thief tied to a tree and assaulted by villagers dies while in police custody

Suspected thief tied to a tree and assaulted by villagers dies while in police custody

Several bank accounts of Rakitha Rajapakshe suspended;Rs. 40M found in frozen bank accounts?

Several bank accounts of Rakitha Rajapakshe suspended;Rs. 40M found in frozen bank accounts?

Human Rights Watch raises concern over proposed Prevention of Organised Crime Bill

Human Rights Watch raises concern over proposed Prevention of Organised Crime Bill

Death of youth in Homagama Police custody: Police officers failed to follow proper procedures – SDIG

Death of youth in Homagama Police custody: Police officers failed to follow proper procedures – SDIG

Police will not ‘whitewash’ officers involved in wrongdoing-Spokesman assures very strong action

Police will not ‘whitewash’ officers involved in wrongdoing-Spokesman assures very strong action

Sri Lanka's foreign reserves projected to exceed $8 billion by year end - CBSL Governor

Sri Lanka's foreign reserves projected to exceed $8 billion by year end - CBSL Governor

Lassana Flora