The mandatory sale of export proceeds/receipts and inward workers’ remittances of commercial banks will be reduced with effect from Monday, 27 February 2023, the Central Bank of Sri Lanka (CBSL) said.
the decision has been taken by the Monetary Board of the Central Bank of Sri Lanka.
Thereby, commercial banks will sell only 15 per cent of such proceeds/receipts weekly to the Central Bank, down from 25 per cent, which was implemented in December 2021.
