Remittances from expatriate Sri Lankan workers increased to USD 384.4 million in November 2022, from 355.4 million dollars in October, statistics released by the Central Bank of Sri Lanka (CBSL) on Saturday reveal.
This is the highest amount of monthly remittances since August 2021 (446.6 million dollars), according to the CBSL.In November 2021, Sri Lankan workers sent only 271.4 million dollars, the Central Bank has said.
Accordingly, the total remittances in the first 11 months of the year are 3.313 billion dollars, which is still a 35.9 percent drop compared to the same period in 2021 (5.111 billion dollars).
The CBSL has said that foreign remittances have increased steadily in the past few months due to the monetary policies and growing trust in the system.The country’s assets are at 1.804 billion dollars out of which 1.732 billion dollars are foreign currency reserves.