CBSL says greater flexibility in exchange rate will be allowed with immediate effect

CBSL says greater flexibility in exchange rate will be allowed with immediate effect

March 7, 2022   10:17 pm

Central Bank of Sri Lanka (CBSL) says it is of the view that forex transactions would take place at levels that are not more than Rs. 230 per US dollar.

In a statement, the Central Bank noted that it would continue to closely monitor the developments in the domestic foreign exchange market and make appropriate policy adjustments accordingly.

Taking the severity of the external shocks and recent developments in the domestic front into consideration, the Monetary Board of the Central Bank announced a comprehensive policy package on 04 March with the view to counter such economic headwinds.

The Central Bank also indicated that it would continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and would stand ready to take further measures as appropriate, with the aim of achieving stability in the fronts of inflation, the external sector, the financial sector, and real economic activity.

In that context, greater flexibility in the exchange rate will be allowed to the markets with immediate effect, the Central Bank said in its statement.

 

Greater flexibility has been allowed in the exchange #rate. @CBSL is of the view that the rate won't exceed Rs.230 per USD. (විනිමය අනුපාතය වඩාත් නම්‍යශීලී කොට ඇත. එය ඇ.ඩො.යට රු. 230 නොඉක්මවනු ඇතැයි මහ බැංකුව අපේක්ෂා කරයි). #SriLanka #GoSL #lka #USD pic.twitter.com/ce8Qe2vW5L

— Ajith Nivard Cabraal (@an_cabraal) March 7, 2022

 

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