Innovative state banking giant, People’s Bank has made a unique introduction to the foreign currency exchange market by removing all charges attached to the exchange of foreign currencies to Sri Lankan Rupees. As a result, People’s Bank will not charge a commission or a service charge from those wanting to exchange US Dollar, Sterling Pound and Euro notes into Sri Lankan Rupees. The objective is to give the best benefits to the earnings of Sri Lankans employed abroad. This free service is available from all People’s Bank branches island-wide, and comes with a high exchange rate and the best value for the Sri Lankan Rupee.

Mr. Asoka de Silva, Chief Executive Officer/General Manager said, “It is the first time in Sri Lanka that a Bank has taken an initiative such as this.” We want to encourage people to go through the proper banking channels, rather than informal channels, when they exchange their foreign currencies. This will ensure that Sri Lanka will gain the maximum advantages within the foreign exchange market, by not losing money through dubious means. This in turn, will assist in the development programs of the government as well.” This innovative step, introduced alongside the World Thrift Day, will undoubtedly be a way to rethink ways in which people save as well.