Sri Lankan central bank strikes investment deals with India and China

Ajith Cabraal

The Central Bank of Sri Lanka (CBSL) can now invest in renminbi after striking a deal with the People's Bank of China (PBoC) yesterday – hot on the heels of a similar agreement with the Reserve Bank of India (RBI).

Earlier this month, the Sri Lankan governor, Ajith Cabraal, revealed the central bank's gross official reserves had climbed to $9.2 billion – an increase of more than $1 billion since the turn of the year.

According to the CBSL annual report for 2013, the "majority" of the reserves ar

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