The Central Bank has extended for a month with effect from August 15 the mandatory requirement for those who have foreign exchange in their possession to either sell it to authorised dealers or deposit it in a foreign currency account.
This regulation was first imposed on June 16 where it reduced the amount in one’s possession to US$10,000 from $15,000 earlier and that all currencies should be sold or deposited in a foreign currency account.
The amnesty was then extended in July and now in August. These regulations are aimed at attracting more foreign exchange to the country at a time when there is a scarcity.
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The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
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