The Central Bank of Sri Lanka on 28 March issued a notice highlighting that money changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates stipulated to them by Licensed Banks.
NOTICE TO THE PUBLIC – MONEY CHANGERS
The public is hereby notified that in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017, Money Changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such Money Changers by Licensed Banks.
The Money Changers have been informed that their licenses would be suspended/ revoked if they transact any foreign currency transactions at rates beyond the rates stipulated by Licensed Banks.
The public is requested to inform the Department of Foreign Exchange via the following telephone numbers or the email address of any instances that a Money Changer offers higher exchange rates for any transaction.