The official remittances rose on a month-on-month basis for the first time in five months after falling four months in a row.

In the first 11 months of this year, Sri Lanka received $5.4 billion from official channels, up 63 percent from $ 3.3 billion in the same period in 2022.

Sri Lanka’s external sector started to stabilize in September 2022, when the central bank started to run balance of payments surpluses after ending money printing to sterilize interventions made with Indian Asian Clearing Union money.