If Sri Lanka is truly interested in Improving Forex reserves. It should allow people to hold Accounts in Gulf Currencies, Maldivian Currencies, Malaysian where majority of Sri Lankan workers are working instead of holding in US Dollars where multiple conversions are necessary.
Sri Lankans first needs to convert to us dollar in order to send currencies in US Dollar NRFC accounts which they make losses. Again if they withdraw in Sri Lankan Rupees they make losses. One loss is ok but double wamy is bad for monatary transactions.
Sri Lankans first needs to convert to us dollar in order to send currencies in US Dollar NRFC accounts which they make losses. Again if they withdraw in Sri Lankan Rupees they make losses. One loss is ok but double wamy is bad for monatary transactions.
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