Central Bank clarification on forex sales by banks

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The Central Bank of Sri Lanka (CB) on Friday clarified that the recent increase of the percentage of foreign exchange sales by banks to the CB from 25 per cent to 50 per cent, effective from March 21, is exclusively applicable to banks and “that will not have any impact on the prevailing requirements for the foreign exchange earnings of expatriate workers and export proceeds of exporters”, according to a statement issued by the monetary authority.

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