Sri Lanka’s Rupee hits Rs. 300 against USD after three months

19 June 2024 02:31 pm Views - {{hitsCtrl.values.hits}} 14 Bookmark

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Colombo, June 19 (Daily Mirror) - Sri Lanka's rupee has reached the Rs. 300 mark against the US dollar, marking its highest valuation in three months.

According to the Central Bank, the last instance of the rupee hitting 300 against the dollar was recorded on March 18, 2024. Since then, the currency has fluctuated within the range of 290 to 299.

Comments - 14

Ram Wednesday, 19 June 2024 02:58 PM

What has RW achieved in the economy? Thanks to the money received from our brothers and sisters working overseas the economy improved. Whether RW or Weerawansa as Finance Minister this money would have come. Imports were curtailed and the Forex saved. Any Ata Pass MP in the Parliament could have handled that situation

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Dee Wednesday, 19 June 2024 04:57 PM

Who is your solution? A bunch of subversives?

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Pinsiri Wednesday, 19 June 2024 07:03 PM

Were you in Iceland the past two years to be so ignorant?

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sach Thursday, 20 June 2024 01:38 AM

Ranil has only worsened the economic situation. We have suspended loan payments. That is why we have no queues any more. But debt is piling up when whole economy is crumbling down

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Flylanka Wednesday, 19 June 2024 04:06 PM

Magic Johnson Central Bank governor must be still doing magic portions. Even the lowest of IQ fella in this country will know that if u don't pay loans and stop imports u can survive for some time. Ya of course increase greedy tax. Unfortunately the poor souls who left the country and living a hardship life outside is the biggest loosers. Sending all the money here and ultimately nothing to withdraw!!!

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George Soro Wednesday, 19 June 2024 05:44 PM

Can the governor of the central Bank please explain how this is possible? As SL has more than 100 billion usd outstanding loans and interest, not paying back. The Rupee should be at 1000 against the usd. In addition, as mentioned several times before, the SL Rupee can not be traded anywhere on the planet. So the usd and all other currency should get stronger and not the Rupee. The rate is just fixed by the central Bank, a big hoax.

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Government Expenditure Too High Wednesday, 19 June 2024 06:29 PM

When they start paying the outstanding loans which are currently on hold, it might reach US$350! The high government expenditures, perks on themselves, senior officials, huge Tri-Forces and some infrastructure improvements without steady income growth will definitely lead to another meltdown if new loans are not approved in time. A revamp is much needed and hope the voters will vote in more younger professionals into government. The current and previous so called politicians can’t do much as seen in this and previous regimes as they are getting to age and most are no longer productive. Furthermore, most are enjoying the benefits and sourcing new personal business opportunities whilst in government for their retirement years.

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Samuel Wednesday, 19 June 2024 07:06 PM

Excellent work, Ranil.

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Cherath Wednesday, 19 June 2024 07:33 PM

In July 2022, when Wickremesinghe was selected by 134 MPs to be the interim President, almost 2 years ago, the US$ rate was Rs.179 to 181. It has risen(i.e. the rupees value has fallen) to 300 now. Little wonder, why the petrol prices has gone from 135 to 460 along with other fuels with similar proportions and all food items, machinery, building materials. UNP clever dicks still boast Ranil got rid of queues. INDEED, when prides go up by 3 times, queues disappear. People stop using cars or minimise it and eat less!

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Dee Thursday, 20 June 2024 09:15 AM

You seriously need to wires checked. Not only numbers but even days are all mixed up!

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Smh Wednesday, 19 June 2024 07:38 PM

It was expected. Many of us knew that the rupee increased value was temporary due to being artificially manipulated.

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S.R. H. Hoole Wednesday, 19 June 2024 09:13 PM

Silly! When the rupee goes "up" from 290 to 300, it has dropped in value!

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Patcitz Wednesday, 19 June 2024 11:33 PM

Given today's right value of the DOLLAR is really more than Rs. 500/-, but, SL Government is artificially compressed the value to show the general public that the economy is head the right track, in a real situation where that there prevails an uncontrollable inflation and recession, in Sri Lanka.

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G Thursday, 20 June 2024 12:29 AM

Dollar is depreciating due to petrodollar deal ending, not because of Sri Lankan politics

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