Dilith sounds alarm over rapid Rupee decline
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Rupee slide rekindles 2022 crisis fears as inflation risks mount
ECONOMYNEXT –The recent sharp decline of the Sri Lanka Rupee (LKR) over the past month has reignited anxieties reminiscent of the 2022 financial collapse. The rupee has fallen more than 5 percent so far this year to a level seen in 2022 after being stable for over three years. While Central Bank Governor Nandalal Weerasinghe has attributed this volatility to global trends, likely strengthening of the US Dollar and shifting international commodit…
The leader of the Universal Power Party, MP Dilith Jayaweera, says that the rupee is currently depreciating faster than when the country's economy collapsed.
Dilith sounds alarm over rapid Rupee decline
Sri Lanka’s Rupee is depreciating at a faster pace than during the country’s worst economic crisis period, according to Sarvajana Balaya leader and MP Dilith Jayaweera. Addressing a media briefing (15), Jayaweera claimed that the government’s import and export policies had not been implemented based on an independent economic vision, but rather on external advice. He said his party had previously warned that the US Dollar would appreciate agains…
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