Sri Lanka, March 19 -- The Central Bank of Sri Lanka (CBSL) has introduced several measures to ease the pressure on the exchange rate and prevent financial market panic due to the COVID-19 pandemic.

Accordingly, licensed commercial banks and National Savings Bank are directed to adopt the following measures during the next three months, with immediate effect:

In addition, Authorised Dealers of foreign exchange are allowed to issue foreign currency notes as travel allowance only up to a maximum of USD 5,000 (or its equivalent in other foreign currency), the release said.

The Central Bank says it will continue to monitor market developments and take further measures as required while ensuring adequate liquidity in the market in order to ...