Monday, 24 July 2023 10:19

Sri Lanka to accept Indian rupee for local transactions Featured

Sri Lanka is considering the possibility of allowing the usage of the Indian rupee for local transactions just like the dollar, euro, and yen to facilitate Indian tourists and businessmen, Foreign Minister Ali Sabry said on Saturday.

Sabry was briefing the media here on President Ranil Wickremesinghe’s visit to India on July 20-21, his first since assuming office last year. He held talks with Prime Minister Narendra Modi on Friday.

“We have considered the possibility of using the Indian rupees like we accept the dollar, euro and yen," he said.

Allowing its direct use would prevent the need for multiple currency conversions for Indian tourists and businessmen.

On Friday, the two countries noted that the decision to designate INR as currency for trade settlements between the two countries has forged stronger and mutually-beneficial commercial linkages, and agreed to operationalise the Unified Payments Interface-based digital payments for further enhancing trade and transactions between businesses and common people.

 

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