Jan 21, 2022

CBSL bans rupee transactions with foreigners

The Central Bank of Sri Lanka has instructed all registered travel agencies in the country to accept only foreign exchange for services provided to foreigners.

The instructions were issued following a decision by the Monetary Board of the Central Bank to increase the circulation of dollars in the country.

The Ministry of Tourism and the Ministry of Finance had recently taken steps to warn tourist hotels that provide services under the theme 'Foreign Tourists Only'.

This was due to the refusal of some hotels and restaurants to cater to local tourists.

The government has announced that it will revoke the licenses of hotels and restaurants that serve only foreign tourists, rejecting local tourists.