• Fri. May 27th, 2022

Sri Lanka’s tourism earnings have overtaken Workers’ remittances inflows in January

Sri Lanka’s tourism earnings have overtaken Workers’ remittances inflows in January this year as emittances inflows fell to a fresh 13-year-low of $ 259 million in January amidst parrel exchange rates, the Central Bank of Sri Lanka (CBSL) data showed.

The Workers’ remittances of $ 259.2 million in January were sharply down by nearly 62 percent from a year ago and lowest in 13 years with the previous lowest being $ 261.6 million recorded in November 2009.

Meanwhile, according to revised figures, tourism earnings have risen to $ 268.3 million from $5.5 million a year ago.

Workers’ remittances inflows have been declining since last April as the CBSL continue to hold on the official exchange rate of Rs.199/200 while grey market rates via alternative money transfer systems such as Hawala climbed to Rs.250-260.

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