CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Sri Lanka is expected to sign a bilateral currency swap agreement of how much with the Reserve Bank of India to boost its foreign reserves?

A	USD 100 million
B	USD 200 million
C	USD 400 million
D	USD 300 million

Explanation:

Detailed explanation-1: -The Reserve Bank of India has agreed to a USD 400 million currency swap facility for Sri Lanka till November 2022 to boost the foreign reserves and ensure the financial stability of the country.

Detailed explanation-2: -Under the agreement, the Central Bank of Sri Lanka can make drawals of US Dollar, Euro or Indian Rupee in multiple tranches up to a maximum of $400 million or its equivalent.

Detailed explanation-3: -External Affairs Minister Dr S. Jaishankar has said that India has given 3.8 billion dollar assistance for ameliorating the serious economic situation in Sri Lanka.

Detailed explanation-4: -In May 2021, Bangladesh cleared a $200 mn currency swap facility for Sri Lanka, to help boost its economy, becoming 1st South Asian country to extend crucial financial assistance to Colombo this year.

There is 1 question to complete.