Central Bank reduces exporter proceeds conversion rule to 10-pct

The Central Bank, having considered the requests made by exporters has amended Rule No. 2 of 2021 by reducing the percentage of mandatory conversion requirement of export proceeds of goods into Sri Lankan Rupees from twenty-five (25) percent to ten (10) percent.

The Bank has also extended the number of days given to exporters to convert the export proceeds of goods into Sri Lankan Rupees from fourteen (14) days to thirty (30) days, provided, however, that such date of conversion shall not be a date later than One Hundred and Eighty (180) days from the date of shipment.

2222-60_E