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Beware of Financial Scams

The Central Bank of Sri Lanka (CBSL) has been receiving information regarding certain Scams where organized parties seem to be claiming that they have large amounts of foreign and/or local currency credited to their accounts which have been temporarily blocked, and that they would pay handsome amounts to any person who can assist in unblocking such amounts. Sometimes they also show forged documentation that large sums of money had been credited to various accounts and they only need to get the approval of the Central Bank to withdraw such monies.

LANKAQR Nationwide Rollout Campaign

The LANKAQR Nationwide Rollout Campaign was launched on 25th October 2021 at the Central Bank of Sri Lanka (CBSL) with the aim of popularizing LANKAQR payments among small and medium merchants as well as consumers, as the prevalent digital payment method in the country. 

Progress of Securing Foreign Exchange Inflows as announced in the Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability

The Central Bank of Sri Lanka (CBSL) wishes to provide the following information to investors and the general public on the progress made by the CBSL and the Government in securing foreign exchange inflows as announced in the Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability.

The CBSL and the Government have commenced a series of direct engagements with other Governments, Central Banks, financial institutions and investors.

Meeting between the Governor of the Central Bank of Sri Lanka (CBSL) and Governor of Qatar Central Bank (QCB)

The Governor of the CBSL, Mr. Ajith Nivard Cabraal had discussions with the Governor of QCB, His Excellency Sheikh Abdulla Bin Saoud Al-Thani, regarding CBSL and QCB collaboration to strengthen SL-Qatar economic ties and measures to mitigate the impact of COVID-19 pandemic on the economies.

NCPI based Inflation decreased in September 2021

Headline inflation, as measured by the year-onyear (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1, decreased to 6.2 per cent in September 2021 from 6.7 per cent in August 2021. This decline was entirely due to the statistical effect of the high base prevailed in September 2020. Meanwhile, Food inflation (Y-oY) decreased to 10.0 per cent in September 2021 from 11.1 per cent in August 2021, while NonFood inflation (Y-o-Y) remained unchanged at 3.0 per cent in September 2021.

External Sector Performance - August 2021

Increased financial inflows bolstered Gross Official Reserves (GOR) during the month of August 2021, while merchandise exports exceeded US dollars 1.0 billion for the third consecutive month. However, the increase of import expenditure outpaced the increase of export earnings, resulting in an expansion of the trade deficit, compared to a year earlier. Tourist arrivals gathered some momentum in August 2021, recording a notable increase over the previous month, although the numbers remained low. A moderation of workers’ remittances was observed in August 2021. Sri Lanka received the allocation of Special Drawing Rights (SDR) from the International Monetary Fund (IMF) as part of the general SDR allocation in 2021. Further, initial disbursements under the bilateral currency swap arrangement between the Central Bank of Sri Lanka and the Bangladesh Bank were received during August 2021.

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