Sri lanka Central Bank has received $1.1 billion from the Reserve Bank of India under the currency swap agreement between the two reserve banks. Consequent to the signing of a special currency swap agreement for $1.1 billion by the Central Bank of Sri lanka (CBSl) with the Reserve Bank of India on 17 July 2015, the CBSl has received $1.1 billion, a statement said.
This is in addition to the $400 million received in April 2015, the bank added. With the enhanced level of official reserves, the CBSl expects that the exchange rate would stabilise in line with sound macro economic fundamentals and movements of other currencies of major trading partners .