More money printed to settle loan payment

202 billion worth of currency was been printed on the 29th of December. This is the first time money has been printed since October.

With this 202 billion, the total value of banknotes printed in 2021 is 825 billion rupees.

Opposition political groups, as well as economic experts, accuse the rupee of depreciating sharply in the face of continuous printing. However, the only option left for the government to cover the expenses in the country is to print money.

The Central Bank of Sri Lanka printed over 130 billion rupees ($640 million) in October and 213 billion rupees was printed on July 26 ($1005 million) had flowed out of the country in a back-to-back transaction that depleted foreign reserves.

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