Colombo: Money crunch Sri Lanka In a desperate move to shore up its rapidly dwindling foreign exchange reserves needed to fund imports of essential goods, including food and fuel, the limit for foreign exchange possession by an individual has been reduced from $15,000 to $10,000. Mr. Lanka is facing a severe foreign exchange crisis that forced the country to declare a default of its international debt in April, becoming the first Asia Pacific Countries to default on foreign debt in decades.
PM Ranil Wickremesinghe Order issued under foreign exchange act To get foreign exchange out of the hands of the public into the formal banking system. A grace period of 14 working days has been given from June 16 for depositing additional foreign exchange or selling it to an authorized dealer.
PM Ranil Wickremesinghe Order issued under foreign exchange act To get foreign exchange out of the hands of the public into the formal banking system. A grace period of 14 working days has been given from June 16 for depositing additional foreign exchange or selling it to an authorized dealer.