ECONOMYNEXT – Sri Lanka’s rupee opened at 307.90/308.00 to the US dollar in the spot market Friday, stronger from 308.10/30 the previous day, dealers said, but sharply depreciated from 305.50/306.00 a week earlier, while bond yields were broadly steady. Sri Lanka rupee had depreciated from 292.58 in December 2024, amid record current account surpluses and sharply reduced budget deficit. Macro-economists had in the past blamed both current account deficits and budget deficits for currency troubles. Macro-economists in the past have blamed oil, cars and gold imports as well as exiting rupee bond holders for currency depreciation after cutting rates and…
Sri Lanka rupee opens sharply depreciated from week earlier
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