Sri Lankan received US$ 543.8 million as remittances in April this year while in May last year the receipts were US$ 479.7 million.

For the five months through May, the country received US$ 2, 624.4 million from remittances, up 11.8 percent from the same period a year ago.

Sri Lanka’s remittances started normalising when the authorities began cracking down on the informal money exchanges that were offering substantial premiums to the official exchange rate.

The rupee depreciation also helped emigrants to re-route their earnings via banks which until then were repatriated via informal channels