Only 8 currencies less valuable than LKR: Customs

16 November 2018 08:02 am - 8 - {{hitsCtrl.values.hits}}

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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)

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Comments - 8

Bala Friday, 16 November 2018 09:46 AM

What about the Euuro at Rs.203 per Euro higher than Swiss Franc and S$. Some error there.

Unchikun Friday, 16 November 2018 11:22 AM

Frankly I do not know how that is. Is she referring to the quality of printing and the paper used?

Unchikun Friday, 16 November 2018 01:47 PM

I am no economist. This lady make me smile.

Sunil Friday, 16 November 2018 02:21 PM

Why publish this piece of news. The value of a currency cannot be judged by the exchange rate.

Dee Friday, 16 November 2018 02:40 PM

Never did the LKR depreciate further on a Friday! Bravo. MR. bravo . Our king! Hail our King.

Lalith Goonatilake Friday, 16 November 2018 02:47 PM

This is nonsense. The currency unit used has no real reference to the comparative value of the currency in the international arena. Korea is a leading world economy. The fact that Wong a very strong currency. One Korean wong is Rs 15 centsSee Kazakstan an oil economy- Tenge is 47 SRL cents.Dont know how this person was appointed as the Director General of the country- an important position.

Vijitha Friday, 16 November 2018 03:16 PM

This is really misleading. How about the Japanese Yen which is only equal to LKR 1.56 today? Does it say Sri Lankan economy is better than Japan? LOL.

Dr. Errol Wirasinghe Saturday, 17 November 2018 11:58 PM

The conversation rate has nothing to do with economic state of Nation. This is meaningless comparison

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Only 8 currencies less valuable than LKR: Customs

Comments - 8

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