It has been revealed that the Central Bank of Sri Lanka is currently preparing to allow artificial exchange rates to be determined soon under competitive supply and demand.
At the moment a stable selling rate of close to 203 rupees per dollar is being maintained. As a result, a dollar in the black market is selling for more than 240 rupees. According to internal sources, the Central Bank has decided to end the current artificial exchange rate within the next one week due to this background.
Meanwhile, financial market analysts predict that the dollar will go up to Rs. 300 / – as soon as the official exchange rates are removed. They also point out that an opportunity will be created to strategically release a stock of dollars hidden abroad to the local market. It has been revealed that this can be done under the guise of investing in the country or by taking advantage of lending opportunities such as sovereign bonds.
