Rupee depreciates to 204 - recovery will be difficult
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Rupee depreciates to 204 - recovery will be difficult

Rupee depreciates to 204 - recovery will be difficult

The Sri Lankan Rupee will take some time  to recover to a reasonable level ,that was the prediction of many economist after hearing that the rupee hit a record low as it depreciated against the U.S. Dollar yesterday (31).

 

The current selling rate of the U.S. Dollar stands at Rs. 204.04, whilst the buying rate stands at Rs. 197.62. This is the lowest value received for the Sri Lankan Rupee in the history of the country. The Rupee has seen a continuous depreciation against the US Dollar over the last few weeks and probably the trend may continue at least n the short term.


 

More to happen

 

Trade Minister Bandula Gunewardene told parliament that the rupee may slip down to the range of 350 in the coming days.
 

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