Minister Bimal Ratnayake says the US dollar is expected to decline further against the Sri Lankan Rupee, expressing confidence that upcoming IMF funds and the Government’s economic programme will help stabilise the exchange rate.
Speaking at a public event, Ratnayake dismissed criticism from opposition politicians over recent currency fluctuations, claiming some had celebrated when the dollar rose above Rs. 340.
He stated that the dollar had already begun to weaken again, dropping to around Rs. 334, and said the Government expects the exchange rate to decline further in the coming weeks.
Ratnayake also noted that Sri Lanka is expecting nearly USD 700 million from the International Monetary Fund (IMF), which he said would further strengthen the country’s foreign exchange reserves once received.
The Minister accused opposition figures of attempting to create unnecessary panic over the currency situation, while insisting that the Government’s economic programme was continuing successfully.
