Govt. to extend amnesty period for handing over dollars exceeding limit by one month

The Finance Ministry is set to extend the amnesty period granted to sell or deposit excess foreign currency possessions of Sri Lankan residents in violation of current foreign exchange regulations by another month.

The Cabinet Spokesperson and Minister of Transport and Highways and Minister of Mass Media 
Bandula Gunawardane yesterday revealed that the Finance Ministry would be issuing a circular within next few days extending the amnesty period.

The Finance Minister recently ordered to reduce the amount of foreign currency retained in possession by a person or resident in the country from US$ 15,000 to US$ 10,000 or its equivalent in other foreign currencies.

The Minister of Labour and Foreign Employment Manusha Nanayakkara noted that the public will be able to deposit such unauthorised foreign currency holdings into a personal foreign currency account or into a business foreign currency account to sell to an authorised dealer during this period, with no questions asked.

The tightened foreign currency holdings were aimed at providing forex liquidity to the banking sector, which is critical to source essential import items. Meanwhile, Nanayakkara noted that Central Bank Governor Dr. Nandalal Weerasinghe has assured the Cabinet of Ministers in a detailed briefing on Monday that the country has sufficient resources to import essential items such fuel, medicine, food and other essential goods until the end of this year.