News Karnataka
Wednesday, September 28 2022
Asia

Sri Lanka reduces amount of holding foreign currency

Sri Lanka to take action against violators of forex laws
Photo Credit : IANS

Colombo: The Central Bank of Sri Lanka on Saturday announced that the amount of foreign currency an individual can hold has been reduced from $15,000 to $10,000.

The central bank said the decision was taken to attract foreign currency into the formal banking system amid the ongoing economic crisis, reports Xinhua news agency.

An amnesty period of 14 working days effective from June 16 is granted for persons holding foreign currency notes, during which they can deposit them into a foreign currency account or sell them to an authorized dealer, according to the central bank.

At the end of the amnesty period, the central bank will initiate actions against anyone who violates the order, in terms of the provisions of the Foreign Exchange Act.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp