Sri Lanka State Minister of Finance says rupee is strengthening due to government’s sound economic decisions

(LANKAPUVATH | COLOMBO) – State Minister of Finance Ranjith Siyambalapitiya on Thursday said the rupee has gained strength as a result of the good economic decisions taken by the government in the ongoing economic crisis.

State Minister Siyambalapitiya points out that the rupee is strengthening due to the political stability and peace in the country.

The value of the rupee has increased against the US dollar.

According to the exchange rates announced by the Central Bank of Sri Lanka Thursday, the purchase price of a US dollar is recorded at Rs. 343.97 and its selling price is Rs. 356.73.

Wednesday, the purchase price of the US dollar was Rs. 351.72 and its selling price was Rs. 362.95.

Minister Siyambalapitiya noted that the amount of foreign reserves, which was US$ 1.7 billion in September last year, has increased to US$ 2.1 billion dollars by the first week of February 2023, achieving a growth rate of 23.5%. The minister points out that it is an increase of US$ 400 million.

“Food inflation affecting all stood at 94.9% as of September 2022,” Siyambalapitiya said adding that food inflation had come down to 60 percent by January 2023.

The Minister pointed out that the number of tourist arrivals which was 29,802 as of September 2022 has increased by 261% and recorded as 107,639 by February 2023.


Leave a Reply

Your email address will not be published. Required fields are marked *