Sri Lanka, June 18 -- The Central Bank said it had become necessary to reduce the period granted to exporters for converting export proceeds into Sri Lankan Rupees in view of the volatility in the exchange rate and the foreign exchange market, and the shortage of foreign exchange liquidity.

Accordingly, every exporter of goods who repatriates export proceeds into Sri Lanka during any given month is required to utilise such proceeds only for permitted payments, and to mandatorily convert the remaining balance into Sri Lankan Rupees on or before the tenth day of the following month.

This amendment reduces the three-month period previously allowed under the regulations introduced in 2024 to a deadline of the tenth day of the following mont...