Foreign exchange crisis: Sri Lanka set to get another $100m from Bangladesh

Bangladesh is set to send US$100 million more to Sri Lanka today (Monday) under the currency-swap agreement signed by the Bangladesh Bank (BB) and the Central Bank of Sri Lanka (CBSL) on August 03.

Earlier on August 18, the BB transferred $50 million to the CBSL in the first installment under the currency-swap deal initiated in March this calendar year.

The central bank of Bangladesh will transfer $50 million more shortly to its counterpart of Sri Lanka if the CBSL sends a request to the BB within five working days after receiving the second tranche of the aid, according to the officials.

Under the deal, the central bank of Bangladesh will provide a total of $250 million to help prop up the island nation’s fast-depleting foreign reserves and ease pressure on its exchange rate.

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