By In October 2023, Sri Lanka’s remittances through official channels increased to $517.4 million, showing a significant rise of 46% compared to $355.4 million in the same month the previous year. However, official remittances are down for the fourth month in a row.
The increase in remittances is attributed to more expatriates sending their earnings back to Sri Lanka. This is reportedly influenced by an improved exchange rate, which is a result of better monetary policy.
