Dollar set to reach 450!

The government is further complicating the issues and attempting to resolve them and as a result of not properly managing the economy, no one can prevent the dollar from reaching Rs. 450 by the end of the year, according to the Senior Professor in the Department of Business Studies at the North Western University of Sri Lanka Aminda Methsila Perera.

He said this in response to a question raised by the media on how the current situation could be managed.

He further said, “Although we anticipated the dollar to reach Rs. 300 by the end of the year, it happened within two weeks. We are a country that imports most of our requirements, including food.

Although the government is restricting imports, its imports are approximately $ 22 billion. Accordingly, in addition to the increase of the from US $ from Rs. 203 to 300, we have had to spend Rs. 22 million additionally. That amount is paid by the consumer. Currently, Sri Lanka’s inflation is the highest in Asia and is currently exceeding 17%.”