70% of Sri Lankan Tamils in Sri Lanka live in the Northern and Eastern provinces. Although Sri Lankan Tamils are culturally and linguistically distinct, genetic studies indicate that they are closely related to Sinhalese ethnic group in the island.
Definition: Under international financial reporting standards, a functional currency is the currency used in the primary economic environment where an entity operates. This is the environment in which an entity primarily generates and expends cash.
1 The functional currency is the reporting entityâs in the first case, and the local currency in the later. 2  Proportion of transactions. 3  Whether the foreign operationâs transactions with the reporting entity constitute a high or low proportion of the operationâs activities.