The requirement for exporters to convert a portion of their dollar income into Sri Lankan rupees has not been suspended, according to the CBSL.
This was made clear by a clarification issued on the regulations which governs the conversion of exporter’s dollar income by the Central bank of Sri Lanka
As a result, exporters must convert a portion of their dollar income into Sri Lankan rupees in accordance with existing guidelines, the statement further states.
The CBSL also stated that the requirement for licenced banks to sell a portion of converted exporters’ Dollar income to the Central Bank of Sri Lanka has been suspended.
Regulation to this effect has been issued, on March 7 2023 by the Central Bank.
