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Friday, 25 July 2014 - 16:07
Sri Lanka, India in mutual forex reserve investment pact
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Central Bank of Sri Lanka and the Reserve Bank of India has inked a deal to buy up to 500 million dollars worth of securities in each other's governments, in a bid to diversify reserve assets.

Sri Lanka's monetary authority said in a statement as a result, the CBSL could now access one of the growing securities markets in the world, realising a considerably higher return for the funds invested.

It has been the practice of pegged countries to invest in US and Western European bonds which are liquid and face no exchange restrictions when they are sold.
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