Tuesday, 26 August 2014 - 11:15
Central Bank to diversify reserve management
The Central Bank of Sri Lanka and the People’s Bank of China entered into a Bilateral Investment Agreement on Bond Investment yesterday, which enables the Central Bank of Sri Lanka to further diversify its reserves management activities into Chinese Renminbi denominated assets.
Central Bank Governor Ajith Nivard Cabraal exchanged the Bilateral Investment Agreement with People’s Bank of China Governor at a special signing ceremony held at People’s Bank of China, Beijing.
Sri Lanka’s gross official reserves, including the Asian Clearing Union balances, reached a level of $ 9.2 billion dollars by end June 2014, while total foreign assets, which include foreign assets of the banking sector as well, amounted to 10.7 billion dollars by end June 2014.