This year, as long as the tourism industry remains inoperative, there will be significant shortfalls in foreign exchange receipt. The pressure on foreign exchange earnings will be amplified by the shortfall in export earnings in other sectors as well, such as textile and fish products.
The Bank, in line with its mandate, has taken necessary measures to maintain stability on the foreign exchange market and address any deficiency in foreign exchange liquidity. The Bank has sold USD172 million to banks since 18 March 2020. In addition, the Bank conducted swap transactions with banks for a total of USD100 million under its support programme.