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Posts tagged as “CNY”

Chinese swap completes 2 idle years in reserves

By Shenal Fernando in The Morning, Mar12, 2023*Attempts to renegotiate terms with PBoC futile: CBSL**Sources reveal response from China has not been ‘favourable’Despite several attempts by the Central Bank of Sri Lanka (CBSL) to renegotiate the conditions of the CNY 10 billion (equivalent to $ 1.5 billion) currency swap with the People’s Bank of China (PBoC), all attempts have proved futile as the response has not been favourable. Accordingly, the currency swap remains unusable to…