COLOMBO : Arrangements are being worked by the Central Bank of Sri Lanka (CBSL) to introduce shortly a legal limit of foreign currencies permitted to be held by a Sri Lankan resident.
Governor of the CBSL Dr. Nandalal Weerasinghe said provisions may be introduced to reduce the legal limit of the possession of foreign currency to $ 10,000 from $15,000 or other currencies to the same value.
He said discussions are underway on whether or not to reduce the legal limit in effect currently.
Dr. Weerasinghe further said that a grace period of two weeks will be provided to deposit the currency into the banking system.
The amount can either be deposited into their foreign currency or rupee accounts, the CBSL Governor added.
