Sri Lanka’s currency has come under renewed pressure after the Sri Lankan rupee was identified as Asia’s worst-performing currency this month, raising concerns over the potential impact on the country’s fragile economy.
A leading global business news platform reported that the rupee had weakened sharply against the US dollar in recent days, warning that further depreciation could be on the horizon.
Economists cautioned that the rapid decline in the value of the rupee within a short period could trigger wider economic consequences if left unchecked.
Professor Wasantha Athukorala of the Department of Economics and Statistics at the University of Peradeniya warned that the currency’s swift depreciation posed a serious threat to the national economy, adding that inflation could rise sharply in the future unless urgent measures were taken to stabilize the situation.
Political voices also weighed in on the issue, with Ravi Karunanayake claiming that the government lacked a proper mechanism to prevent the rupee from sliding further.
Former lawmaker Piyal Nishantha urged both the government and opposition to work together to find immediate solutions to the country’s ongoing economic difficulties.
Responding to growing public concern, President Anura Kumara Dissanayake sought to reassure the nation, saying the rupee’s depreciation would be temporary and calling on the public to face the challenge with resilience.
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