Central Bank intervened in foreign exchange market – CBSL Chief

August, 23, 2019

Central bank of Sri Lanka intervened in the foreign exchange market in the last few days, Governor of CBSL Dr. Indrajit Coomaraswamy said whilst addressing the media in Colombo today (23).

“Last three days or so we think the pressure that has been in the forex market is not align with the underline fundamentals. We have seen this massive improvement in the trade account and we had flows into the financial account. So there is no earthly reason why this should be happening. Other than maybe some other factors which have arisen in the last few days.”

“So we have intervened in the market in the last few days,” Dr. Coomaraswamy said.

“Up to about three days ago we had actually on a net basis bought 350 million,” he added."