The Sri Lankan rupee has been identified as the worst-performing currency in Asia this month, according to a report by a leading global business news platform.
The report noted that the rupee has weakened sharply against the US dollar in recent days and warned that further depreciation could follow if economic pressures persist.
Professor Wasantha Athukorala of the University of Peradeniya said the rapid fall in the currency poses a serious risk to Sri Lanka’s economy and could lead to higher inflation if corrective measures are not taken promptly.
He cautioned that unchecked depreciation would place additional pressure on prices and overall economic stability.
Meanwhile, MP Ravi Karunanayake alleged that the government lacks an effective mechanism to stabilise the currency.
Former MP Piyal Nishantha also urged both the government and opposition to work together to address the ongoing economic challenges.
Responding to the concerns, President Anura Kumara Dissanayake said the rupee’s depreciation would be temporary and called on the public to remain resilient during the period of volatility.
