The Central Bank of Sri Lanka (CBSL) has announced that provisions will be introduced shortly on the legal limit of foreign currency permitted to be held by a Sri Lankan resident.

Accordingly, foreign currency a Sri Lankan citizen can hold in their possession will be limited to USD 10,000 from USD 15,000.

Moreover, a grace period of two weeks will be provided to deposit currency into the banking system.

The amount can either be deposited into foreign currency or rupee accounts.