China approves $1.5 billion currency swap with Sri Lanka: Minister

The deal will allow the island to weather "present difficulties", State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said in an interview with the Daily Mirror, in apparent reference to dwindling foreign exc...

By Reuters | Updated: Mar 10, 2021, 09.32 PM IST

China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a minister told local media on Wednesday.

The deal will allow the island to weather "present difficulties", State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said in an interview with the Daily Mirror, in apparent reference to dwindling foreign exchange reserves.

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