The Central Bank of Sri Lanka (CBSL) has made it mandatory for exporters of goods to convert the remaining export proceeds into Sri Lankan Rupees after using them only for permitted payments.
According to the regulation, exporters who receive export earnings in any calendar month must complete the conversion of the residual balance on or before the 10th day of the following month.
The requirement has been introduced through a Gazette notification issued by CBSL Governor Dr. Nandalal Weerasinghe. (NewsWire)