Festive offer to bring USD 300 million: Cabraal

News

Over 300 million US dollars is expected to be remitted following the offer given by the Central Bank to migrant Sri Lankans, Central Bank Governor Ajith Nivard Cabraal said.

Migrant Sri Lankans will receive Rs.10 extra for each USD remitted through licensed banks and other formal channels and converted into rupees in December 2021.

“The increase from two rupees to ten rupees will have a big impact on remittances,” he said.

Meanwhile, bank accounts of those who distribute and receive money through unlawful money transmission methods will be frozen with immediate effect, the Governor warned.

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