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Mandating the sale of 50% of earned dollars to the CBSL does not apply to foreign workers and exporters!

The Central Bank of Sri Lanka (CBSL) has stated that the decision to increase the percentage of foreign exchange earned in foreign exchange from 25% to 50% is only applicable to banks.

The Central Bank emphasizes that this decision does not apply to the exchange earnings of migrant workers and the export earnings of exporters.

An earlier order had mandated the sale of 25% of the dollar reserves to commercial banks to the Central Bank, which had decided to increase that percentage to 50% with effect from March 21. The decision was taken as a solution to the huge dollar crisis facing the country.

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