CB observes significant reduction in foreign remittances from Lankan workers

CB observes significant reduction in foreign remittances from Lankan workers

CB observes significant reduction in foreign remittances from Lankan workers

Written by Staff Writer

29 Mar, 2015 | 10:11 pm

The Central Bank reports that foreign remittances, from Sri Lankan expatriates working abroad, reduced significantly in January.

Earnings from foreign remittances sent back home by Sri Lankan workers abroad, is one of the main streams of foreign exchange revenue for Sri Lanka.

The Central Bank reports that foreign remittances in January, amounted to 523.5 million US dollars, a 5.8 percent decrease from the 555.5 million US dollars earned in January 2014.

Earnings from foreign remittances in December 2014, amounted to 708.8 million US dollars.

The Central Bank has also expressed its belief that earnings from foreign remittances will increase during the Sinhala – Tamil New Year season.

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