CBSL raises mandatory foreign exchange sales by up to 25%

The Central Bank Governor has ordered all licensed banks in the country to sell 25% of converted US dollars to the CBSL on a weekly basis.

 

It came as an amendment to the Operating Instructions on “Incentive Scheme on Inward Worker Remittances”, “Repatriation of Export Proceeds into Sri Lanka”, “Additional Incentive Scheme on Inward Workers’ Remittances” and “Incentives for General Public for Depositing, Converting and Investing of Foreign Currency held in Hand.” Foreign currency held in hand by the general public which are converted into LKR, until 31.01.2022.