gossip lanka

Cabinet approves forex cover for investors to boost inflows into local-currency bonds

The Central Bank of Sri Lanka has identified the need to facilitate non-resident investors to enable to invest in government securities and other sectors to encourage the inflow of foreign currency into the country, the state information office said.

Accordingly, approval has been given to introduce US Dollars/Sri Lankan Rupee buying and selling exchange facilities for one or two years by the Monetary Board of the Central Bank.

Hence, the Cabinet of Ministers approved the proposal presented by the Finance Ministry to take the following measures to minimize the foreign exchange risk that may occur to Licensed Commercial Banks.