Sri Lanka Sees Significant Rupee Gain on Government Measures
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Sri Lanka’s rupee will appreciate significantly and the central bank is ready to intervene to prevent “unnecessary” movement in the currency, Governor Ajith Nivard Cabraal said.
“We expect the rupee to significantly appreciate from the current levels due to a very clear path that will be seen in our external account,” Cabraal said in an interview in Nepal yesterday. “If we believe that it is trading at levels not in line with fundamentals we stand ready to deal with any unnecessary movement.” He was attending a meeting of South Asian central bank officials.