Bangla-SriLanka Currency Swap agreement
Bangla-SriLanka Currency Swap agreement Bangla-SriLanka Currency Swap agreement #GS2-IR Bangla-SriLanka Currency Swap agreement ✅Currency swap: 🔸It is effectively a loan that Bangladesh will give to Sri Lanka in dollars, with an agreement that the debt will be repaid with interest in Sri Lankan rupees. 🔸This is cheaper than borrowing from the market. The period of the currency swap will be specified in the agreement. ✅ SAARC currency swap facility: 🔸It came into operation in Nov 2012. 🔸Aim : providing to smaller countries in the region “a backstop line of funding for short-term foreign exchange liquidity requirements or balance of payment crisis till longer term arrangements are made”. Read more...... 30 may 2021 current affairs in hindi