Sri Lanka, Feb. 12 -- The Central Bank of Sri Lanka (CBSL) says it has noticed certain instances where residents in Sri Lanka transact within the country in foreign currency, rather than in Sri Lanka Rupees.

In this connection, the Central Bank clarified that according to the provisions of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBSL Act), all transactions executed between or among residents in Sri Lanka shall be made in Sri Lankan Rupees, unless otherwise authorized by the Central Bank for the purposes of the Foreign Exchange Act, No. 12 of 2017.

Further, merchants and the general public are informed that the Central Bank has not granted any authorization for local merchants to receive any payments from its local customers t...