Sri Lanka ranks third in currency depreciation against US dollar

24 September 2022 06:35 am Views - {{hitsCtrl.values.hits}} 7 Bookmark

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Zimbabwe holds the first position and the value of the Zimbabwean currency has depreciated by 73.33%

According to John Hopkins University economist Professor Steve Hanke’s data reports, Sri Lanka has ranked third in the world in terms of the depreciation of the local currency against the US dollar, the foreign media reports.

According to the report, Zimbabwe holds the first position and the value of the Zimbabwean currency has depreciated by 73.33% compared to the US dollar.

The value of the currency has depreciated by 57.65% and Cuba is on the second position on the list and Sri Lanka is on the third position on the list.

That is due to the depreciation of the local rupee by 47.79%. '

Comments - 7

ANTON Saturday, 24 September 2022 08:14 AM

ATLEAST WE GET A SILVER MEDAL FOR SOMETHING.

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Never ever learns Saturday, 24 September 2022 08:31 AM

These are real achievements by our patriotic people, please keep this up, and we have a president like Ranil who’s used to privileges, entitlements by birth, and rogues in parliament. Way to live the country and develop, nicely done, grandpa’s

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Arnold Saturday, 24 September 2022 09:20 AM

Soon we will be number one!

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Citizen k Saturday, 24 September 2022 09:28 AM

Wow so proud to be in third place. A bronze medal.So even Lebanon,Afghanistan and Yemen Arab Republic have stronger currency than us.

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Sunil Saturday, 24 September 2022 10:28 AM

Once again, congratulations, Sri Lanka. This is prosperity as defined by Gota, mynah and their humble minion ranil. May be we can win gold in a few months.

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Samantha Hetti Saturday, 24 September 2022 11:18 AM

In our defaulted on government debt, better release the pegged fix on the dollar. After sharp depreciation again to true value maybe 700 rupee to dollar, it will steady up. Exporters will continue to get same dollar for their export, and dollar that converted to rupee will be much more. Middle east remittances will suddenly come through like a flood. They won't hold back once they get fair value, as they know their family suffer because of printed money inflation which is greater than even dollar depreciation. Fuel price will go up, as it is bought in dollar, but dollars themselves will be plenty here, so reliable supply can again be had. Longer the the peg/fix is held, the slower the recovery is going to be, and less out of reality we are. Which then leads to more economic problems in the long run.

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sellappah nagarajah Monday, 26 September 2022 05:51 AM

corrupt have done an excellent job to depreciate the dollar and fool the voters

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