The depreciation of the Sri Lankan Rupee is low in comparison with the performance of the other Asian currencies

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The Ministry of Finance says the depreciation of the Sri Lankan Rupee is low in comparison with the performance of the other Asian currencies. It says that the Sri Lankan Rupee depreciated by six per cent only against the US dollar since May this year. Senior Deputy Governor of the Central Bank Dr. Nandalal Weerasinghe says the currency depreciation is mainly due to external global developments where the US dollar is strengthening.

Meanwhile, Minister Sajith Premadasa says ex-President Mahinda Rajapaksa is clueless with regard to the depreciation of the Rupee. The Minister says he is ready to face the former leader in a debate on this topic.

State Minister Sujeewa Senasinghe notes that with the strengthening of the US economy, currencies of other countries are getting devalued. In the meantime, MP Wijayapala Hettiarachchi refutes the arguments on this matter by MP Wimal Weerawansa.

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