Facebook icon
Twitter icon
e-mail icon

New all time low for Sri Lanka's rupee

Sri Lanka's rupee fell to a new historic low today of 180.40 against the dollar as the country's political crisis continues. 

According to data published by Refinitiv Eikon the rupee has fallen 17.2 percent this year. 

Last week the finance ministry sought to reassure lenders that debt repayments would be made amid increasing concern of economic collapse. 

The International Monetary Fund has confirmed that discussions regarding its next loan tranche to Sri Lanka had been delayed due to the island’s deteriorating political crisis.

The former finance minister, Mangala Samaraweera warned "Sri Lanka is on the brink of economic anarchy and chaos as never experienced before." 

Moody's last week downgraded Sri Lanka from B1 negative to B2 stable. 

We need your support

Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.

Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view

We need your support in keeping our journalism going. Support our work today.

For more ways to donate visit https://donate.tamilguardian.com.