CBSL Mandates Exporters Convert Residual Proceeds to LKR by 10th of Following Month

The Central Bank of Sri Lanka (CBSL) has issued an Extraordinary Gazette Notification, introducing new rules under the Central Bank of Sri Lanka Act, No. 16 of 2023. These regulations, effective upon Parliamentary approval, mandate that exporters must convert residual export proceeds into Sri Lankan Rupees by the 10th day of the following month, after accounting for permitted payments. This amendment revises previous regulations concerning the repatriation of export earnings. The gazette was issued by CBSL Governor Dr. Nandalal Weerasinghe.