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

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.
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