According to the Sri Lanka Customs, the currencies of only eight out of 52 countries have a lower value than the Sri Lankan Rupee (LKR).
In an extraordinary gazette notification issued yesterday by Sri Lanka Customs Director-General P.S.M.Charles -- displaying the exchange rates of 52 countries in comparison to the Sri Lankan Rupee -- the currencies of Hungary (Forint), Indonesia (Rupiah), Iran (Riyal), Korea (Korean Won), Myanmar (Kyat), Nigeria (Naira), Zambia (Kwacha) and Zimbabwe (Dollar), which are in circulation domestically, have a lower value than the Sri Lankan Rupee.
Accordingly, the value of one Forint in Hungary is 63 cents, Rupiah a little over one cent, Riyal nearly one cent, Won 16 cents, Kyat one cent, Naira six cents, Kwacha less than a cent and Zimbabwean dollar about five cents.
Currencies of highest value against the Sri Lankan Rupee are Kuwait Dinnar - Rs.582, Oman’s Riyal – Rs. 459, Jordan’s Dinnar – Rs. 250, UK’s Sterling Pound – Rs. 231, US Dollar – Rs. 177 and Switzerland’s Franc – Rs. 176.
“All duties of customs, as well as other charges, penalties and forfeitures incurred under the Customs Ordinance, shall be paid and received at the rates of exchange set out in the schedule,” Mrs Charles instructed officials in her gazette notification. (Sandun A. Jayasekera)