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Thursday, May 30, 2024

Forex crisis: CBSL imposes 100% cash margin deposit requirement against several goods including underwear

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The CBSL announced that a 100 per cent cash margin deposit requirement will be imposed against the importation of selected goods with immediate effect.

This requirement will be imposed against several non-essential items including mobile phones, digital camera, children’s clothing, underwear, cheese, butter, fruits and beverages, cosmetics etc.

This decision comes while Sri Lanka is suffering from a forex crisis. The CBSL said that this is an attempt to support the ongoing efforts to preserve the stability of the exchange rate and foreign currency, by discouraging excessive imports.


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