What is it?
Exporters Foreign Currency Accounts are an incentive given to exporters by permitting them to maintain their export earnings in foreign currency. Only export proceeds can be credited to these accounts.Debits to these accounts are freely permitted.

However they cannot send advance payments for imports unless the CIF Colombo value of the import is not more than USD 7,500. Funds can be remitted only for purposes authorized by Exchange Control and therefore no Capital account transactions are permitted.

Who is eligible to open an account?
- Exporters of goods registered with the Export Development Board
- Exporters of services registered with the Export Development Board
- Shipping Lines (their profits only)
  (Indirect exporters i.e. Suppliers to direct exporters not entitled)

What are the other benefits?
- Accounts maintained in foreign currency.
- Available in the form of Savings or Fixed Deposit accounts
- Can be used to manage the exchange risks
- Interest earned in foreign exchange
- Speculate to get an additional income when the Sri Lanka Rupee depreciates
- Payment of commissions to agents abroad and payment of claims /charges
  can be made without any losses in exchange