Colombo, August 14 (DailyMirror) – Local banks have jacked up the additional rate added to the exchange rate on overseas transactions carried out via credit or debit cards.
The current rate applicable is 2.5 percent. However, banks have decided to increase this rate to 6-7 percent, Daily Mirror learns.
Some banks have already informed their cardholder customers of the upward revision, and others are expected to communicate the same to their customers in the coming few days.
As per banking sector sources, with the new rate, a cardholder will have to pay nearly Rs.222 for a US dollar when carrying out a foreign transaction.
The move is evidently due to the sharp depreciation of the rupee against the dollar and the dearth of foreign currency in the country.
Although the official selling rate of a US dollar as per the Central Bank is around Rs.203.00, dollars are sold at much higher prices in the market.