Vehicle import laws tightened.

Friday, 30 August 2013 - 12:40

Vehicle+import+laws+tightened.+++

 

 

The Central Bank said Sri Lanka has imposed a 100 percent cash margin on letters of credit to import cars to slow the imports of cars, as the rupee came under pressure in forex markets.

 

The central bank said currencies of several trading partners have weakened against the Sri Lanka rupees as both the Indian rupee and the Japanese yen fell.

 

The Sri Lanka rupee fell to a low of around 135 rupees in forex markets this week for leading to interventions by the Central Bank.