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Message: <blockquote data-quote="piyals" data-source="post: 27965729" data-attributes="member: 240058"><p>Although total reserve is expressed in USD, CBSL foreign currency reserves are invested in multi currency portfolios to minimize the exchange rate risk. But I dont think they would maintain reserves in Middle East currencies like Dirham. AFAIK, local banks only allow limited no of currencies for foreign currency accounts as USD,GBP, EUR, AUD, CAD, HKD, SGD, JPY, SEK, NZD, DKK, NOK, CNY, and CHF. I guess if you send Middle East currencies here, they are converted to USD by the sender bank so that the local bank receives USD. Even it is not the case, local banks can convert it to USD or any other currency with their foreign counter parts.</p></blockquote><p></p>

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