Sri Lanka rupee steadies as customs revenue tops target and $1 bn illicit transfer probe launches

The Sri Lankan rupee traded around 337 per US dollar in spot markets on June 25‑26, with the selling rate holding at roughly Rs 341 across major banks. Bond yields edged higher, and the Colombo Stock Exchange index rose modestly.

Sri Lanka Customs reported collecting 194.1 billion rupees in June, beating its 184.9 billion‑rupee target weeks before month‑end and contributing to a year‑long revenue goal of 2.2 trillion rupees, driven by stricter enforcement and a rebound in imports.

President Anura Kumara Dissanayake announced a probe into about US$1 billion moved out of the country since 2023 via telegraphic transfers that did not correspond to actual imports, implicating certain bank branches and managers and citing over‑invoicing and fictitious shipments as methods.

SAARC Secretary‑General Golam Sarwar used a Colombo forum to call for deeper regional cooperation, describing the organization as an “irreplaceable beacon of hope” for South Asia’s two‑billion‑person population.