COLOMBO (NewsRadio); A decision has been taken to suspend the law imposed by the Central Bank of Sri Lanka that Sri Lankans living abroad and those receiving export incomes must convert a certain amount of US Dollars into Sri Lankan Rupees.
The revision comes into fact from this month. Governor of the Central Bank Nandalal Weerasinghe has noted that there is no need to convert a mandatory part of the export earnings into Sri Lanka Rupees due to the income received from the Sri Lankans abroad.
The CBSL Governor also said that the Central Bank arrived at the decision after considering the increase in the amount of US Dollars received from remittances sent by Lankans abroad, export earnings as well as the forex earnings due to the increase in tourist arrivals.
