The Sri Lanka rupee has further devalued to 143.75 yesterday from 143.89 in the previous trading session. The Rupee reached an all time high of 143.89 in December of 2015 and a record low of 95.60 in December of 2003. Top international economics professor Razeen Sally also said that the Sri Lankan exchange rate has continued to weaken. "The interest rate climate is probably too liberal in Sri Lanka and it creates unrealistic expectations in the economy." Speaking at the "Global Economy and Sri Lanka - What Can We Expect in 2016" organised by the Ceylon Chamber Prof. Sally said fiscal consolidation or the repair of public finances was an immediate necessity and by the upcoming year interest rates would rise further and the global economic climate was expected to get worse.
Rupee weakens further
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Oleh
Lanka Stocks
