Worker remittances in December 2021 record 60% drop against Dec. 2020

COLOMBO (News 1st); Sri Lanka has received 325.2 million dollars in worker remittances in December 2021, which is a drop of nearly 60% compared to December 2020.

Accordingly, the 325.2 million US dollars received in worker remittances in December 2021 is an increase from 271.4 million US dollars in November 2021.

To attract more remittances through formal channels, CBSL offered an incentive last month, which was to offer additional Rs. 10 for every dollar converted into rupees, in addition to the normal exchange rate.

Official data indicated that Sri Lanka had received 5.5 billion US dollars in worker remittances last year.

This has been recorded as a 22.7% drop from 7.1 billion US dollars in 2020.

Sri Lanka had received workers remittances of 6.7 billion US dollars in 2019 and 7 billion US dollars in 2018.