Sri Lanka suspends all restrictions on foreign currency inflows

Apr 02, 2020 (LBO) – Sri Lanka’s Cabinet of Ministers has decided to suspend all restrictions on foreign currency inflows into the Island during the COVID-19 preventive period, defined as the three months commencing 2 April 2020.

Releasing a statement, the Central Bank Governor Professor W D Lakshman invites all in Sri Lanka and abroad to consider depositing their savings and other funds in foreign currency within the Sri Lankan banking system as a gesture of goodwill and assistance.

“We guarantee that your foreign currency deposits into the Sri Lankan banking system will be accepted without any hindrance from the Government, the Central Bank or any other Government authority. We also guarantee the future convertibility of these deposits into foreign currency whenever you desire to do so,” the statement said.

“All your forex remittances will be exempted from exchange control regulations and taxes, and protected under banking secrecy provisions.”

Full statement

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