Sri Lankan rupee forecast to decline to 350 per dollar by end of the year

After topping global currency rankings this year, analysts are predicting tough times ahead for the Sri Lankan rupee as the government eases import restrictions and debt repayments loom.

The rupee, which closed at 294.07 per dollar on Tuesday, is forecast to decline to 350 by the end of December, according to Standard Chartered Plc and BMI. The currency’s 25% gain this year has seen it capture the best spot returns globally, supported by rising tourist arrivals and inflows into the bond market.

Bloomberg

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