Sri Lanka Central Bank says it would fully lift the guidance peg introduced in last May along with the complete removal of the foreign currency
Sri Lanka Central Bank says it would fully lift the guidance peg introduced in last May along with the complete removal of the foreign currency sell-down rule imposed on banks from next week onwards.
Sri Lanka will end a guidance peg and will also end a surrender rule from next week allowing the rupee to trade more freely, but will buy dollars to build reserves, Central Bank Governor Nandalal Weerasinghe said.
- A daily guidance peg will no longer be announced from next week.
- A surrender rule where the banks were asked to sell 15% of their dollar inflows will also end from Tuesday.
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