Workers’ remittances increased by 32 percent on a year-on-year basis during January and February, reflecting stronger inflows from overseas Sri Lankans and improved confidence in formal banking channels.
By the end of February, the country’s official foreign reserves stood at approximately US$7.3 billion, indicating a steady accumulation of external buffers.
Meanwhile, the Sri Lankan rupee has shown relative stability, depreciating by only 1.6 percent against the US dollar so far this year.
The Central Bank also reported that total expenditure on vehicle imports reached US$418 million during the first two months of the year, highlighting a continued demand for motor vehicles despite ongoing economic adjustments.
Overall, the data suggests a gradual strengthening of Sri Lanka’s external sector, supported by higher remittance inflows, stable currency movements, and improved reserve levels.
