Facebook icon
Twitter icon
e-mail icon

Rupee ends weaker despite Ranil’s return

Sri Lanka’s rupee continued to fall this week, as the fallout from Colombo’s political crisis continued to dent sentiment, reports Reuters.

“Political paralysis remained the main concern for investors,” added Reuters, who reported that dealers also pointed to a delay in appointing cabinet ministers contributing to the weakening rupee.

The fall comes despite the reappointment of Ranil Wickremesinghe as Sri Lanka’s prime minister, after almost two months of political turmoil which saw the dissolution of parliament, widespread reports of bribery and parliamentary violence.

The crisis resulted in a declining rupee, downgrading of the country's sovereign by credit agencies and a suspension of international funds.

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.