Currency swap agreement under the SAARC Framework - Diplomacy and International relations

Q.  Consider the following statements

1. India and Sri Lanka’s central banks signed a currency swap agreement under the SAARC Framework.
2. Under the arrangement, the Central Bank of Sri Lanka can draw up to $1.1 billion for a maximum period of six months.
3. The swap will be offered in U.S. dollar, euro or Indian rupee against the domestic currency or domestic currency-denominated government securities of the requesting country.

Which of the above statements is / are correct?
- Published on 11 Jul 15

a. 1,2
b. 2,3
c. 1,3
d. All of the above

ANSWER: All of the above

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