Govt. to relax exchange control regulations

13 December 2016 09:16 am - 3 - {{hitsCtrl.values.hits}}

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The Government will introduce new legislation, by end January next year, relaxing the strictures placed on exchange control, Finance Minister Ravi Karunanayake said yesterday.

It was one of the Budget proposals.

When asked about the progress made, he said the Legal Draftsman’s Department was in the process of preparing the necessary legislation.

Currently, the Central Bank controls the exchange rates but with the new legislation it would be the market which would determine the rates. (Kelum Bandara)

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Comments - 3

Indika Tuesday, 13 December 2016 12:37 PM

Here we go.It seems the so called economic osthars have finished selling all Central Bank's usds to keep lkr stable.Now expect 180~200lkrs for a usd by the end of 2017.rest in peace Sri lanka

Nish Tuesday, 13 December 2016 01:00 PM

And then money launder all the ill gotten wealth. We will suffer.

B S Perera Tuesday, 13 December 2016 02:27 PM

Minister is very silent about TWICE promised Senior Citizens' FD interest rates -SHAME !

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Govt. to relax exchange control regulations

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