Sri Lankan Rupee plunges to Rs.170

21 September 2018 01:03 pm - 19     - {{hitsCtrl.values.hits}}

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The value of Sri Lankan rupee dropped to a new record low of 170 against the US Dollar today.

According to the the foreign exchange rates issued by the Central Bank of Sri Lanka, the selling price of US dollar is Rs.170.65 while the buying price is shown as Rs. 166.78.

 

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  Comments - 19

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  • max Friday, 21 September 2018 01:10 PM

    Obata sathutuida dan!

    rajg Friday, 21 September 2018 01:11 PM

    It is true that US interest hikes will have a negative impact on other countries currencies. It will also have an impact on debt and debt servicing as countries will have to pay more in rupees to buy dollars to service debts. This will create an internal crisis as money available for recurrent expenditure within the country will have to be diverted to service debt. When this government took over the rate was in the vicinity of Rs 131, and since then, the rupee depreciation is around 30% (to today) Besides this as per the central bank latest reports, foreign debt has increased nearly 70% since this government took over. For the public,what matters is how the government has managed the economy after they came to power, and not what happened last year. By all accounts, the SL Rupee depreciation has been at the behest of the IMF and their target is for it to fall to Rs 200/=

    Ceylon Friday, 21 September 2018 01:34 PM

    So what ???.any currencies value changing every minute for so many reasons.that's how currency market works.no one can change it.better to educate general public about currency market.99% lankans don't know how stock market work.how currency market work.without tell little bit is not enough to understand it and idiot politicians use it to throw mud at government.only few parlimentarians know it.sirisena also dont know it.easy to fool common people who has no knowledge.

    Mk Friday, 21 September 2018 04:03 PM

    I dont think u hv any idea how the currency market works and why the rupee is in an almost free fall

    Unchikun Friday, 21 September 2018 01:38 PM

    I am happy to observe the the Sri Lanka government is not intervening to prop up the Rupee. What was can do is now to exploit the situation. Just checked hotel pricing in Sri Lanka and the Rupee price has dropped considerably. The same applies to exports. Now we can sell tea, rubber etc at a lower US $ based price.

    Ceylon Friday, 21 September 2018 02:01 PM

    Political idiots don't know these facts.teach mahinda and gunawaedana about how currency market system work.

    Karu Friday, 21 September 2018 03:22 PM

    Crap.Sri Lanka cannot survive on tea and rubber alone. The production costs of these crops go up with the rise in price of imported fertilizer, pesticides and machinery. It's a cycle.

    mohan Friday, 21 September 2018 03:30 PM

    we import more than export. Exchange rate have direct influence on our inflation/price of goods

    Sharon Friday, 21 September 2018 03:31 PM

    No wonder this country is a 'Never developing country'

    Wick Sunday, 23 September 2018 06:45 AM

    Ha Ha Haaa now check the price of tea for last three years and make your comment again

    fareed Friday, 21 September 2018 02:39 PM

    Well, when the Brits voted in favor of separation from EU, the UK pound dropped I believe some 20% or more. If they reverse the idea of separation, the pound could rebound maybe another 20 to 30%. So the currency fluctuation cuts a country both ways and its not a political problem as Trump wants to name China as the currency manipulator, they manipulate currency in order to increase the export by keeping the currency weak and even Japan does so.

    southpaw Friday, 21 September 2018 02:45 PM

    Can we just ban the import of Luxury Vehicles and Chairs to defend our currency. A Poor country like Sri lanka cannot afford to maintain the luxury lifestyles of our Politicos and their Friend and Family.

    Ceylon Friday, 21 September 2018 03:03 PM

    Good news for exporters.good news for more than one million lankans who are working in foriegn countries.they get more ruppees for their sending $ to srilanka.

    Harini Friday, 21 September 2018 08:33 PM

    What's the point of sending dollars to Sri Lanka? Purchasing power parity locally is also a factor. So what you cab actually buy locally to maintain a decent quality of life is less due to inflationary factors, increased taxes and ad hoc fluctuations on essentials like fuel, basic food and other daily consumption items. The rupee is not the only thing this government has destroyed for the lack of any kind of intelligence or a plan.

    Ceylon Friday, 21 September 2018 03:21 PM

    When importers are loosing,exporters are gaining.good for local producers and local products, they get more money by exporting.

    mario Friday, 21 September 2018 08:17 PM

    we must rename our currency as Sri Lankan Bolivar

    Gummay Baiyya Friday, 21 September 2018 09:37 PM

    Can the Rupee bat for our Cricket team? whether T29 or 50 overs, 170 is a great score which our boys cant reach against any team, these days.

    Siege Saturday, 22 September 2018 10:24 AM

    The countries economic status depends on the way their peiple think and work. Sri lanka is still this way because sri lankans are lazy. Just see the time how long it take for sri lankan workers to finish completing a tarmac. Compare it with other countries. If the people are more dedicated and less lazy sri lanka will not remain this way.

    narayan Saturday, 22 September 2018 04:54 PM

    stop all imports other than essential foods and infant itemsfor next three months and encourage exports and see the difference and call for an inventory of all non essential item as at a particular date. dollar price will stabilize


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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.