Sri Lanka's foreign exchange reserves drop to US$ 4.6 billion
Sri Lanka's foreign exchange reserves fell to US$ 4.6 billion at the end of February.
According to the Central Bank's interim estimates, the reserve fell despite a US$ 400 million exchange rate with the Reserve Bank of India.
Sri Lanka's foreign exchange reserves stood at US$ 4.8 billion at the end of January, up from US$ 5.6 billion at the end of last year.
The Central Bank received US$ 28 million in remittances from Sri Lankans overseas in February and US$ 8 million in export earnings and foreign exchange as a measure to build up its foreign reserves.
The Central Bank recently imposed a regulation requiring 12.5% of exporters' foreign exchange earnings to be converted into local currency
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