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Banks restricted from purchasing ISBs of Sri Lanka to ease pressure on exchange rate

The Central Bank requires the licensed commercial banks and National Savings Bank (NSB) to suspend the purchase of Sri Lanka International Sovereign Bonds (ISBs) for a period of six months unless such purchase is funded by new foreign currency inflows sourced from abroad.

This new direction which will be implemented with immediate effect has been taken with a view to easing the pressure on the exchange rate and the stress on financial markets due to the impact of the Covid-19 outbreak.

Source : LBO  

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