ECONOMYNEXT – Sri Lanka central bank’s local swaps are a ‘hot money operation’, members of the parliament’s Committee on Public Finance have warned, amid concerns over its inability to build reserves in 2025. The COPF has also made a discovery that domestic inflationary swaps are not considered a reserve related liability that is deducted by the central bank when arriving at its own Net International Reserve (NIR) number. Questions have also been raised by other analysts about publicly declared reserve money numbers where some excess rupee reserves which banks can use for final clearing of transactions appear to be excluded.…
Sri Lanka central bank warned local fx swaps are a ‘hot money operation’ by COPF members
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