ECONOMYNEXT – Sri Lanka has received 499 million US dollars in remittances through official channels in August 2023, up 53 percent from a year ago, data released by the central bank shows. The August number is slightly lower than 541 million US dollars in July. Worker remittances coming through official channels fell in 2021 which could not be paid for by the banking system at the official rate as money was printed to sterilize interventions and keep a policy rate down, triggering parallel exchange rates, which were settled outside the formal banking system. From April rates were hiked, slowing credit and the need to print money to keep rates down. Up to August 2023, Sri Lanka received 3,862.7 million US dollars from official channels, up 74 percent 2,214.5 million US dollar in 2022. (Colombo/Sept09/2023)
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
