S.H.MOULANA
RIYADH-mThe news that ‘Central Bank attempts to convert worker remittances into Lankan rupees’ went round the Gulf states like wildfire. Lankan expatriates were highly worried and some even thought of opening foreign currency accounts elsewhere. Number of parents here were blessed with the opportunity of giving their children higher education in recognized universities in the west with their foreign exchange savings back home. It is really heartening to see they were able to produce large numbers of doctors, engineers and accountants.
However they are relieved after reading the news item under the caption ‘CB denies attempt to convert worker remittances into Lankan rupees’ in the media. In 1975 when I arrived in Riyadh the US dollar fetched only Rs.18.00 including FEECS (Foreign Exchange Entitlement Certificate) and the same dollar fetched well over Rs. 200.00 now! However, the same dollar which cost Saudi Riyal 3.75 then still remains at Saudi Riyals 3.75 and there has been no change for the last 46 years! Lankan expatriates thank the Central Bank for the assurance it has given to continue maintaining the foreign exchange account of Lankan expatriates in their home country.
