India okays $400 million currency swap with Sri Lanka to help it meet short term financial needs
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India's Central Bank, the Reserve Bank of India on Friday signed a $400 million currency swap agreement with Sri Lanka to help the island nation meet its short term requirements. The agreement will be valid till November 2022. According to the High Commission of India based in Colombo, Sri Lanka, the currency swap will help Sri Lanka in its post-pandemic economic recovery amid the debt burden by China.