Central Bank says no change to exchange policy; didn’t ask banks to devalue rupee

The Central Bank yesterday stressed that it has not officially asked the banks to devalue the Sri Lankan rupee, although the banks have started selling the US dollars at much higher prices than the official exchange rate stipulated by the Central Bank. 

Although the official exchange rate is around Rs.203 per US dollar, the banks this week in their websites published rates indicating Rs.211 per dollar for telegraphic transfers.

“The Central Bank of Sri Lanka (CBSL) has observed messages being circulated claiming that the licensed banks have been officially asked to devalue the Sri Lanka rupee with immediate effect.

The public is hereby informed that there is no basis whatsoever for such claims and the CBSL has not made any change to its stance or the operational arrangements on the determination of the exchange rate,” a Central Bank statement said.

“The public is also advised not to rely on false and misleading information that is being circulated through social and 
conventional media. 

Any official statement issued by the CBSL will be made by the Governor, Deputy Governor or any other authorised official of the CBSL identified by name and designation,” 
it added.