Only 23% goods export proceeds converted to rupees in Oct.

Governor Dr. Weerasinghe also noted that the CBSL is monitoring the situation with regards to export proceeds conversion into rupee and to assess the current situation, monetary mechanisms have been implemented together with licensed commercial banks and Sri Lanka customs.

He said the repatriation from goods and services in October is USD 1.45 billion and out of the USD 1.2 billion export proceeds from goods only USD 326 million( 23%) has been converted to rupees.

“On the basis of available information with CBSL, we have not seen the full amount being converted and the conversion into rupee has been less than what the Central Bank expected.” To this end , the CBSL has asked exporters to share available data to assess the full impact of the situation. We hope exporters will support us to make even their names clear and also for us to be able to understand their situation with more data.”