The Central Bank of Sri Lanka (CBSL) has extended the deadline for exporters to convert their proceeds into Sri Lanka Rupees.
Under the newly issued “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024,” published in the Gazette Extraordinary on July 1, 2024, exporters now have up to the 10th day of the month following the expiration of three calendar months from the date of receipt to convert their proceeds.
This extends the previous deadline, which required conversion by the 7th day of the following month. The updated rules, approved by Parliament on September 4, 2024, are aimed at accommodating changes in the domestic foreign exchange market. (NewsWire)
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