Skip to Content

Sri Lanka limits foreign currency holdings amid crisis


Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s central bank says it will lower the maximum amount of foreign currency that individuals can possess to $10,000 from $15,000 and penalize anyone who holds it for more than three months. Police, meanwhile, fired tear gas and water cannons at thousands of students demanding the government step down for failing to solve the country’s economic crisis. The students attempted to march to the presidential residence but were blocked by police in the capital’s commercial center. The central bank says people must place their excess foreign currency in a bank or convert it into local currency within two weeks. Sri Lanka faces a severe shortage of foreign currency that has sharply limited imports of essential items such as fuel, cooking gas, medicine and food.

Article Topic Follows: AP National Business

Jump to comments ↓

Author Profile Photo

Associated Press


KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content