The Central Bank of Sri Lanka has published a gazette notification, mandating that hotel services accept payments from tourists only in foreign exchange as the islands economic crisis worsens.
The gazette notification notes that hotel services registered with and licensed by the Sri Lanka Tourism Development Authority are required to,
Accept payments for services rendered to persons resident outside Sri Lanka only in foreign exchange.
Deposit such foreign currency into a Business Foreign Currency Account of the hotel service provider or sell to a licensed bank within three business days.
Credit payments into a Business Foreign Currency Account of the hotel service provider, in the event such person resident outside Sri Lanka makes payments using an Electronic Fund Transfer Card (Credit Card, Debit Card, Travel Card, etc.).
However, hotel service providers may accept payments in Sri Lankan rupees from tourists if they provide evidence that the rupees being spent were obtained from conversions within the island and through a licensed bank or authorised money exchange.
The announcement comes as Sri Lanka faces a deepening economic crisis, with increasing food shortages and power cuts routine across the island.
Read more at newswire.
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