RBI signs $400 mn currency swap with Sri Lanka

News: The Reserve Bank of India(RBI) has signed a $400-million currency swap facility with Sri Lanka under the SAARC Currency Swap Framework 2019-22. Facts: Currency Swap: The term Swap means exchange.Under this, a country provides dollars to a foreign central bank which at the same time provides the equivalent funds in its currency to the… Continue reading RBI signs $400 mn currency swap with Sri Lanka

RBI revises framework on currency swap arrangement for SAARC countries

News:The Reserve Bank has said that it has put in place a revised framework on currency swap arrangement for SAARC countries for 2019-2022. Facts: About currency swap arrangement: A currency swap between countries is an agreement to exchange currencies with predetermined terms and conditions.  The countries engage in currency swaps with foreign counterparts to meet… Continue reading RBI revises framework on currency swap arrangement for SAARC countries