CB builds up exchange reserves
The Central Bank of Sri Lanka (CBSL) has taken several measures to
build up of foreign exchange reserves to a higher level, said a press
release issued by it yesterday (19) evening.
Among the measures already initiated are arrangements of currency
swaps with foreign Central Banks (as reported exclusively in the Daily
News yesterday, promotion of investments in Treasury Bills and Bonds
among the Sri Lankan diaspora, payment of a 20 per cent bonus interest
on NRFC and RFC deposits from February 1, 2009 and consideration of
introducing a once-and-for-all concessional final income tax for new
foreign exchange inflows, if such inflows are subject to income tax.