The government expects the Sri Lankan Rupee to strengthen against the US Dollar, dropping to as low as Rs. 280, Cabinet Spokesman Minister Bandula Gunawardena said.
Addressing the post-Cabinet media briefing today, Minister Gunawardena said that going forward it is expected for the Rupee to reach the Rs. 280 range against the US Dollar soon.
“During the foreign exchange crisis and shortage of fuel, we saw the US Dollar being sold for over Rs. 400. However, now it has dropped to Rs. 314. It is expected to drop further, at least to Rs. 280,” he said.
Minister Bandula Gunawardana further said that land prices will also plummet from the current highs, pointing out that rents have already fallen sharply. (NewsWire)
