Sri Lanka central bank to announce dollar/rupee trading band

[Hapuwa]

Sri Lanka’s central bank will announce a daily trading band for the rupee dollar exchange rate to prevent high off market premiums being charged from importers by exporters and stabilize volatility, Central Bank Governor Nandalal Weerasinghe said.

“The band will be based on the previous day’s price and a plus or minus margin,” Governor Weerasinghe told reporters in Colombo.

Exporters were asking banks to sell part of the dollars to third parties at higher prices, which is against regulations, he said.

Dollars were being used for non-essential imports like refrigerators with exporters instructing banks to sell dollars to third parties, he said.

The trading band will help establish a more transparent price for exporters and importers.

Source: https://economynext.com/sri-lanka-central-bank-to-announce-dollar-rupee-trading-band-94111/

Decriminalizing the black market. This can work.

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Ayeth peg karala da? Therenne nehe?

Peg newei black market traders lata podi incentive ekak denawa tikak wedi gaanak USD ewana ayata denna. Eka bank eke demmama dena rate ekath wedi. Regulated blackmarket. Lebanon is also doing this but it was too late when they started it
------ Post added on May 12, 2022 at 7:43 AM

 

[Voldemort Bro]

all failed policies are implemented by Dr. Nandalal
eg Dollar Rate determination by CB, Crowd Finance to collect FC to pay loans and imports!
going to IMF without any plan knowing that China had already rejected any restructure, using rented vehicles when mission had enough vehicles etc
It seemed that Dr Nandala is not much different from others .
we cant expect him to reverse all idiotic decisions taken since 2019 where he held dy Gov post and never raised a Red Flag .
But even to think about Crowd Finance to succeed to get money to pay for debt and imports of a country , is a joke and below my expectation of a person who has a phd .
this is yet another forced USD exchange rate by CB and will again pave way for black mkt?

Tho gihin governor weyanko pakayo.dannati huttawal kiyawanne metana