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Sri Lanka Limits Foreign Currency Possession By Individuals To Support Dwindling Forex Reserve

Sri Lanka Limits Foreign Currency Possession By Individuals To Support Dwindling Forex Reserve

Sri Lanka has reduced the limit of foreign currency possession by an individual from $15,000 to $10,000, in a desperate move to shore up its fast-depleting forex reserve required to fund the import of essentials, including food and fuel. Sri Lanka is facing a severe forex crisis which forced the island nation to declare a … Read more

Sri Lanka limits forex possession by citizens to support dwindling reserves

Photo: Bloomberg

Sri Lanka has reduced the limit of foreign currency possession by an individual from USD 15,000 to USD 10,000, in a desperate move to shore up its fast-depleting forex reserve required to fund the import of essentials, including food and fuel. Sri Lanka is facing a severe forex crisis … Read more

Is Bangladesh’s current $42bn forex reserve safe enough?

Is Bangladesh's current $42bn forex reserve safe enough?

Policymakers, leading macroeconomists and Bangladesh Bank are saying that the decline of COVID-19 cases was met with a global hike at the prices of commodities as the Russia-Ukraine war caused the production and supply costs to go up. Alongside this, a decline in remittances compared to last year’s inflow has caused concerns. High imports caused … Read more