CBSL to introduce cap for those possessing U.S. Dollars

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Discussions are underway to reduce the total amount of dollars one may keep in their possession, Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe said.

Speaking at a conference held at CBSL this morning (19), Dr. Weerasinghe noted that the move would address the ongoing dollar crisis in Sri Lanka, and hopefully, contribute to overcoming the issue.

Accordingly, it is proposed that an individual may be permitted to have no more than USD 10,000 in their possession. Previously, persons were permitted to have a total of USD 15,000 in their possession.

Moreover, those who are unable to disclose the way in which they came into possession of these dollars will be given a two-week grace period, due to come into effect in two days, to deposit said dollars into banks.