Seylan Bank Ltd vs Manchester Yarn and Thread (Pvt) Ltd – sllr 2004 volume 3 page 303

In the case between Manchester Yarn and Thread (Pvt) Limited and Seylan Bank Limited, the court addressed whether a judgment may be entered in a currency other than Sri Lankan rupees despite the statutory provision that the rupee is the standard unit of value. It was held that the Monetary Law’s designation of the rupee as the standard unit does not preclude court judgments from being awarded in foreign currencies, provided appropriate conversion measures are applied. The court reaffirmed the principles of restitutio in integrum and consensus ad idem, emphasizing that contractual expectations regarding payment in a specified currency should be preserved. The decision relied on statutory interpretation and comparative case law, holding that denying foreign currency judgments would adversely