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Five accused of smuggling foreign currency out of SL arrested by Customs

The Narcotics Division of the Sri Lanka Customs on Saturday (29) seized five persons for attempting to smuggle foreign currency out of the country, on their way to onboard an Emirates EK-649 flight flying to Dubai, United Arab Emirates.

The Custom officials recovered foreign currency amounting to Rs. 25 million from the suspects’ possession. The stash consisted of US$ 95,000, 18,000 Euros and 37,000 Saudi Riyals, according to the Customs.

Further investigations are underway, according to the Custom officials.

The event comes in following the ongoing forex crisis in Sri Lanka spawned by the economic situation.

In a similar event reported on January 20, five suspects attempting to smuggle foreign currency out of the island were seized by the Customs and were found to be in possession of US$ 22,300, 63,500 Euros, 292,000 Saudi Riyals, 8,725 Sterling Pounds and 75,000 UAE Dirhams, amounting to a total value of Rs. 42 million in local currency.

Anyone leaving the country can only carry a maximum amount of US$ 10,000 at any currency at a time, and if the total value exceeds US$ 5,000, it should be declared before the Customs. There is no limit to the amount of any foreign currency that can be brought into the island, but the Customs must be notified, if the value exceeds US$ 15,000.

MIAP

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