sri lanka depreciates currency by 3
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Sri Lanka depreciates currency by 3%

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Arab Today, arab today Sri Lanka depreciates currency by 3%

Colombo - AFP

Sri Lanka's president announced Monday a surprise three percent depreciation of the country's currency against a basket of currencies, saying it aimed to remain competitive in export markets. "I have asked the Central Bank (of Sri Lanka) to depreciate the rupee by three percent," President Mahinda Rajapakse told parliament as he was unveiling the island nation's 2012 budget. "This is to remain competitive with our neighbours," he said.

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