The Central Bank of Sri Lanka has informed that Money Changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such Money Changers by Licensed Banks.
Issuing a statement, the Central Bank said the directive is issued in terms of the provisions of the Foreign Exchange Act, No.12 of 2017.
The Central Bank said money changers have been informed that their licenses would be suspended/ revoked if they transact any foreign currency transactions at rates beyond the rates stipulated by Licensed Banks.
