Indian Rupee Not Legal Tender For Domestic Payments: Sri Lanka Central Bank

Daily Current Affairs / Indian Rupee Not Legal Tender For Domestic Payments: Sri Lanka Central Bank

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Category : National Published on: August 05 2023

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The apex bank of Sri Lanka said that no domestic transactions would be allowed with the Indian Rupee in the island country.
The apex bank said that even though the Indian Rupee (INR) has been endorsed as a designated foreign currency, it is not a legal tender in Sri Lanka for domestic payments/settlements.
INR was designated a foreign currency in Sri Lanka in August 2022.
"Any transaction executed between or among residents in Sri Lanka shall be in LKR (Lankan Rupee), being the legal tender in Sri Lanka," the central bank said.