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Rupee conversion of export proceeds: CBSL reduces requirement to 10%, extends time period

18 Apr 2021

Issuing a notice on Friday (16), the Central Bank of Sri Lanka stated that the Monetary Board has decided to reduce the percentage of mandatory conversion requirement of export proceeds of goods into Sri Lankan Rupees from 25% to 10%.  Announcing two changes to the Rule No. 2 of 2021 as published in the Gazette Extraordinary No. 2218/38 dated 09.03.2021, Central Bank noted that it has also decided to extend the number of days given to exporters to convert the export proceeds of goods into Sri Lankan Rupees, as required in above, from 14 days to 30 days.  However, it added that “such date of conversion shall not be a date later than 180 days from the date of shipment”.

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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!


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