SL continues to lose worker remittances

TPL | Published: 12:39 PM Nov 28 2021
Business SL continues to lose worker remittances

Sri Lanka's annual worker remittance flow has turned negative significantly in 2021, where the inflows have fallen by 13.8 per cent.

The remittances normally stand around seven billion USD, says charts.lk.

The Central Bank has offered many benefits to those who send money home through the formal channel, but has failed to attract attention.

Industry experts blame an artificial exchange rate of Rs. 203 per USD for not receiving the expected inflow.

Informal channels are said to pay Rs. 240 per USD.

TPL | Published: 12:39 PM Nov 28 2021

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