The Free Lawyers organization has raised concerns over the exchange rate being used by the Sri Lanka Customs Department, claiming it is higher than the prevailing nominal market exchange rate announced by the Central Bank of Sri Lanka (CBSL) and commercial banks.
In a statement issued today, the organization said Sri Lanka Customs has announced via gazette that all transactions from May 25 to May 29, 2026, will be calculated using an exchange rate of Rs. 351.17 per US dollar.
The organization pointed out that this rate remains higher than the nominal exchange rate currently reflected in the banking sector.
Free Lawyers alleged that while the Central Bank is attempting to maintain the dollar at a lower level through interbank exchange interventions, Customs — one of the Government’s highest revenue-generating institutions — is continuing to apply a higher exchange rate for imports.
The organization warned that the higher Customs exchange rate could directly impact the prices of imported goods and eventually affect consumers.
Free Lawyers urged the Central Bank to immediately revise the exchange rate used for Customs transactions in line with the prevailing nominal market exchange rate.
The statement was issued by President’s Counsel Maithri Gunaratne, Convener of the Free Lawyers organization, and Rajith Keerthi Tennakoon, CEO of the organization. (Newswire)
