CB issues clarification on forex sales by banks

The Central Bank yesterday said the recent increase of the foreign exchange sales by banks will not have any impact on the prevailing requirements on earnings of expatriate workers and export proceeds. 

“The Central Bank wishes to clarify that the recent increase of the percentage of foreign exchange sales by banks to the CBSL from 25 to 50%, effective from 21 March, 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,” the banking regulator said, issuing a statement yesterday.