Commercial banks ignore directives; sells dollars at higher rates

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 available0Sampath Bank Rs. 211.00Commercial Bank of Ceylon Rs. 211.00National Development Bank Rs. 211.00Hatton National Bank Rs. 211.00Seylan Bank Rs, 212.00DFCC Bank Rs. 211.50

Minister of Finance Ajith Nivaard Cabraal speaking to media stated that the Central Bank should immediately look into this matter.

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