The Central Bank of Sri Lanka (CBSL) yesterday (28) ordered al local banks to sell 25 percent of the dollars coming to banks to the Central Bank week basis.
Central Bank Governor Ajith Nivard Cabraal has ordered that all payments made to banks in exchange for the rupee be made in dollar terms.
According to an order issued by the Governor of the Central Bank, inward workers remittances recive in various currencies which are converted to Sri Lankan Rupees , the residual of export earnings which is mandatory to converted in to Dollars , value of the conversion of Sri Lankan workers in foreign currency into rupees converted into rupees in various currencies should be transferred to the banks for conversion into dollars, which are now mandatory for exporters to convert into rupees. as well as foreign currency held in hand of the public which are converted to SLR through local banks are requested to sell 25 percent of the total to the Central Bank.
