Sri Lanka’s gross official reserves increased to USD 7.3 billion by end-February 2026, continuing the upward trend from USD 1.9 billion in 2022, according to latest Central Bank data.

The Central Bank also recorded USD 0.7 billion in net FX purchases during the first two months of 2026.

The Asian Development Bank (ADB) has agreed to increase the funding approved for Sri Lanka this year from USD 380 million to USD 480 million, and to fast-track the release of USD 200 million in view of the prevailing situation.

This was disclosed during a meeting at the Presidential Secretariat between President Anura Kumara Dissanayake and a delegation led by ADB President Masato Kanda, who is currently on an official visit to Sri Lanka.

During the meeting, extensive discussions were held on how the Asian Development Bank could support Sri Lanka in achieving its future development objectives.

President Dissanayake stated that the government expects ADB assistance for its programme to rebuild the country following the recent disaster situation.

ADB President Masato Kanda commended the government’s efforts to maintain economic stability despite the post-disaster conditions and the current conflict situation in the Middle East. He said the ADB is prepared to provide all necessary support for rebuilding infrastructure damaged by Cyclone Ditwah.

The Cabinet of Ministers has granted approval for a proposal aimed at promoting QR code-based digital payments by ensuring that no additional charges are levied on either the sender or the receiver for transactions valued below Rs. 5,000.

The government has identified the promotion of a digital economy as a national priority, with a view to enhancing economic efficiency, financial inclusion, and transparency.

Despite these objectives, Sri Lanka continues to rely heavily on cash for day-to-day retail transactions, thereby limiting the growth of transparency and the broader digital ecosystem, according to a statement by the Department of Government Information.

At present, more than 20 financial institutions and approximately 30 mobile applications support LankaQR facilities. However, active usage remains relatively low.

During the third quarter of 2025, approximately 274,000 transactions were recorded via LankaQR, with a total value of around Rs. 1.18 billion. This translates to an average of approximately 90,000 transactions per month, amounting to about Rs. 390 million.

Observations indicate that the average value of a QR-based transaction remains below Rs. 5,000.