China, Sri Lanka ink $1.63 bn currency swap deal

Beijing, Sep 17 (IANS) China’s central bank announced late on Tuesday that it has signed a 10 billion yuan (about $1.63 billion) currency swap deal with the Central Bank of Sri Lanka.

The three-year agreement aims to promote bilateral trade and strengthen financial cooperation between the two central banks, Xinhua quoted the People’s Bank of China’s (PBOC) website as saying, adding that the deal could be extended upon agreement by the two sides.

Two weeks ago, the PBOC signed an agent investment agreement with its Sri Lankan counterpart (the Central Bank of Sri Lanka) which allows the former, on behalf of the latter, to make investments in China’s interbank bond market.