Aug 18, 2021

Commercial banks ignore directives; sells dollars at higher rates Featured

The Central bank has set an exchange rate for a US dollar at Rs. 202.89 and yet commercial banks are issuing dollars at arbitrary rates.

The rate quoted for importers by local private banks yesterday (17) was Rs. 211while foreign banks retained an exchange rate of Rs. 215. 

Accordingly, the selling rate of US dollars at several banks yesterday (17) were as follows: 

Bank of Ceylon - Rs. 203.00
People’s Bank - Rs. 202.99 (no dollars available)
Sampath Bank - Rs. 211.00
Commercial Bank of Ceylon - Rs. 211.00
National Development Bank-  Rs. 211.00
Hatton National Bank - Rs. 211.00
Seylan Bank - Rs. 212.00
DFCC Bank - Rs. 211.50

State Ministry of Money and Capital Market and State Enterprise Reforms - Ajith Nivaard Cabraal speaking to media stated that the Central Bank should immediately look into this matter.