COLOMBO : The Sri Lankan migrant labour community abroad, which significantly contributes to the economic strengthening of Sri Lanka, has remitted Rs. 289.2 billion (equivalent to 964 million US dollars) to the country in January and February this year.
According to a recent report issued by the Central Bank of Sri Lanka, the country received 488 million dollars in January and 476 million dollars in February of this year.
The report also indicates a significant growth in the value of remittances received by the country in February 2024 compared to February 2023, with remittances totalling 407 million US dollars.
In January 2023, Sri Lanka received remittances totalling 437 million US dollars.Remittances from foreign employees have shown an increase in 2024 compared to the corresponding period of the previous year. Meanwhile, the Central Bank of Sri Lanka highlights that the gross official reserves stood at the level of US$ 4.5 billion by the end of February 2024, including a foreign exchange facility of US$ 1.5 billion received from the People’s Bank of China. In February of this year, the Central Bank of Sri Lanka purchased US$ 240 million on a net basis.
