Sri Lanka continues to see growth in remittance inflows year after year. However, there was a 0.5 % decline in year 2015 after several years amidst slower hiring in gulf countries and falling oil prices. The country still received around $7 million in 2015 which makes a big portion of their foreign income.
Sri lankans staying abroad mostly use legalized channels to send money back home. Exchange Rate IQ can help them find the most reliable and cost-effective way to send money to Sri Lanka. Exchange rate IQ is a unified platform for all remittance related information. It lists all options to transfer money to Sri Lanka and lets you compare them side-by-side. It brings in much needed transparency in the remittance market to let you choose the cheapest option to remit money to Sri Lanka.
You can also get an estimated value in Sri Lankan Rupee (LKR) for the amount being transferred. Exchange Rate IQ will help you find the best exchange rate, lowest remittance fee and min
Current Exchange Rate(Mid Market) :- 160.1931 LKR/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.