Business

CBSL cautions against exchange rate violation 

The Central Bank of Sri Lanka (CBSL) yesterday (28) issued a notice stating that money changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such money changers by licensed banks.

“The public is hereby notified that in terms of the provisions of the Foreign Exchange Act No. 12 of 2017, Money changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such money changers by licensed banks.” 

The money changers have been informed that their licences would be suspended/ revoked if they transact any foreign currency transactions at rates beyond the rates stipulated by licensed banks, the CBSL said.

The public is requested to inform the Department of Foreign Exchange via the following contact lines of any instances that a money changer offers higher exchange rates for any transaction. 

Telephone: (011) 2 398 523, (011) 2 398 827, (011) 2 477 375, (011) 2 398 568 

Email: dfem@cbsl.lk