SL rupee drops below Rs 300 against USD

Scale is tilting Thursday, 18 May 2023 12:54 PM

The opposition is in a frenzy to discredit Ranil and the economic recovery of the nation. The opposition is losing their grip with every drop in the Dollar value.

Reply 0       0

sallimalli Thursday, 18 May 2023 01:03 PM

Come on this is not Mr. President good governance or anything else. This is a trading issue. Now the pandits will come out all guns blazing sayin we did this right, we did that right!!!! Pls wait... We still need to pay loans of over 7 billion which we have not even started and mind you we need to Bangladesh first !!!!

Reply 0       0

Azmath Buhar Thursday, 18 May 2023 01:09 PM

We noticing gradual appreciation of LKR, but all goods and services are still at higher prices. There is no benefits given to public.

Reply 0       0

Ah Thursday, 18 May 2023 01:14 PM

LKR appreciating must translate into less cost of imports and decline in COL. otherwise pointless for expatriates

Reply 0       0

Ram Thursday, 18 May 2023 01:22 PM

Thanks to our brothers and sister who sweat overseas to earn dollars and send same home our dollar balanced improved. Then vehicle imports and many other imports were curtailed and the dollars remained. Not any miracle by RW

Reply 0       0

Sri Lankan Thursday, 18 May 2023 01:40 PM

Very bad strategy to allow SLR to appreciate instead of building back our reserves. The inflows are hot money towards T-bills investment, which will eventually flow out with interest.

Reply 0       0

lester Thursday, 18 May 2023 02:00 PM

This is due to artificial influx of dollars from ranil's loans from his white master that needs to paid back. not due to economy expanding and exports increasing. Default again, dollar will sky rocket to its proper value. this is day light robbery of earnings of foreign workers.

Reply 0       0

kamal Thursday, 18 May 2023 02:02 PM

This is a manipulation. 1.The Rupee has to have a demand from overseas for a real increase. Is there? 2. The economy is collapsing. Hence there is no demand for the dollar for industry related imports. The end result is fewer exports soon. 3. IMF loans and credit swaps Ranil did is for the life essentials and still a loan that increases the burden of debt. 4. Rajapakshas showed a similar artificial value using the borrowed billions of $s and buying dollars with rupees that led to the current crisis. 5.historically the rupee declined by about 7.7% against the USD. In the year 2000 it was around 77LKR to a USD. Hence the real current value ought to be Round 450.

Reply 0       0

perera Thursday, 18 May 2023 02:11 PM

Washington-based International Finance Corporation said it is giving a 400 million US dollar swap facility to three banks in Sri Lanka for trade financing. - Ranil, please stop artificially deflating the dollar for your presidential aspirations at the expense of foreign workers by doing credit swaps and loans from your white friends. You will never win the presidency in a general election vote. mark my words.

Reply 0       0

Gamini Thursday, 18 May 2023 02:14 PM

SJB and JVP will be very unhappy

Reply 0       0

johan Thursday, 18 May 2023 02:37 PM

Then why cement price not dropped? It was raised from 950 to 3000 rupees per bag citing reasons against dollar conversion when it was 380 Rs. - 1 USD. SL is the only country where cement price has gone skyrocketing level

Reply 0       0

Lion Thursday, 18 May 2023 03:15 PM

There is no magic in this as imports have gone down due to less demand and the result is less demand for dollars. Stopping payment of loans due from the SriLankan government in addition to this there is no increase of exports instead it has decreased in this year compared to last year according to the central bank report . So a man with modicum of intelligence could easily under stand the economic situation in the country. Share market is collapsing by the day that too shows economic situation in this country.

Reply 0       0

Bernard Jayatilake Thursday, 18 May 2023 03:49 PM

Sri Lanka Rupee has depreciated against the US Dollar, not appreciated as mentioned.

Reply 0       0

Citizen k Thursday, 18 May 2023 04:22 PM

Why is cost of living yet so high .Look at the price of goods . Isn't it time price control on consumer goods is imposed..Look at the price of a meal in a restaurant,it is rising in proportion to the value of the dollar dropping.

Reply 0       0

Bin Thursday, 18 May 2023 04:31 PM

So many people including foreign countries are trying to bring down our progress We have to be united to push back those back stabbers

Reply 0       0

Not rocket science Thursday, 18 May 2023 05:31 PM

If the Rupee is so strong any reason for us to still ban exports and raion fuel? Also we should be able to start paying back our debts

Reply 0       0

GHT Friday, 19 May 2023 12:16 AM

Utterly an artificial strength shown by the government to stay in power by force without going for an election, suppressing the rights of the people to gain popularity among the international community. In fact, Sri Lanka is losing its grip both politically and economically.

Reply 0       0

Tissa Fernando Friday, 19 May 2023 07:25 AM

A lot of JVP or SJB supporters appear to be unhappy based on their comments here.

Reply 0       0

Rex jarkie Friday, 19 May 2023 12:14 PM

the cost of medicines are not coming down why something is wrong somwhere DRUGS SHOULD COME DOWN WHY WHY IS IT NOT HAPPEING??????

Reply 0       0