Harsha welcomes Central Bank action to stabilise the rupee

Samagi Jana Balawegaya (SJB) MP Harsha de Silva today welcomed the action of the Central Bank to ensure the stability of the Sri Lankan rupee.

“Kudos to the Central Bank for sticking to the plan. It’s working. As detailed in our Samagi Jana Balawegaya (SJB) economic Blue Print in which we have said continued relaxation of restrictions will help move the rate to a stable equilibrium, with further action as per our document,” Dr. de Silva said in his Twitter message.

“ Balance of payment difficulties and black market premium in the official forex market will be eliminated by adjusting the exchange rate to the equilibrium ( market)level. This can be done through a transitional phase if floating the currency to permit market to reveal the equilibrium rate, and then stabilizing that rate through Central Bank intervention in the forex market,” he added quoting the SJB blueprint.(Yohan Perera)