CB has printed money over Rs. 600 billion this year- Free Lawyers

Colombo, May 27 (Daily Mirror) - The Central Bank has been printing money in 2025 and 2026 paving the way for the current forex issue, Free Lawyers alleged yesterday.

Chief Executive Free Lawyers Keerthi Tennekoon alleged that the Central Bank has printed money worth Rs 1,653 billion in 2025 while it has printed money worth Rs 610.7 billion from January to March this year.

The total money supply has been expanded up to Rs 16,585.7 billion as at March this year.

Coming up with more allegations the Free Lawyers CEO said the Central Bank Governor who had called the heads of commercial banks had informed them to maintain the rupee within the range of Rs 329 to Rs 335 against the US dollar. “The Central Bank has used rupees which were in its safes to purchase dollars from the commercial banks.

“The interest rates have increased up to 8.75 percent as of yesterday while the outstanding state debt has increased to Rs 29,994.69 in 2025 compared to Rs 28,240.22 as of November 2024. In addition, the vehicle market is in disarray while the Government has been forced to increase fuel prices once again,” he added.

“ The Central Bank should provide answers to these allegations without coming up with short media releases,” he added.