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Tuesday September 28th, 2021
Economy

Sri Lanka adds Thai Bhat to designated foreign currencies for off-shore banking

ECONOMYNEXT – Sri Lanka’s central has added the Thai Bhat to a list of currencies that are permitted to be used for offshore banking, taking the total to 15.

Sri Lanka’s dollarized Colombo Port City is expected to operate using central bank designated currencies.

The central bank added the Chinese Renminbi to the list in 2011 in a direction to be used in both offshore and domestic banking units.

The Hong Kong dollar which is issued under a currency board to the Fed and its exchange rate is unchanged for three decades at 7.8 to the US currency is also in the list as is the Japanese Yen.

Other currencies at the Australian dollar, Canadian Dollar, Euro, Japanese Yen, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Swedish Kroner, Swiss France and the US dollar. (Colombo/June23/2021)

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