Samagi Jana Balawegaya (SJB) MP Mujibur Rahman has alleged that a series of wrong economic decisions has contributed to the current depreciation of the Sri Lankan rupee.

Speaking at a media briefing, he warned that the situation could worsen with the opening of Letters of Credit (LCs) for the import of 1,700 vehicles.

According to Rahman, increased vehicle imports will drive up the demand for US dollars, placing further pressure on the local currency.

He claimed that the rising demand for foreign exchange is already contributing to the rupee’s decline and suggested that some state officials have failed to fully grasp the implications of these developments.