COLOMBO, Apr 30: The Sri Lanka rupee should stabilise below 125 per dollar and there is no reason for the currency to depreciate beyond that, Treasury Secretary P.B. Jayasundera said on Monday.
‘There is no economic or fundamental reasons for the rupee to go beyond 125 a dollar,’ Jayasundera told reporters in Colombo. ‘The recent fall is mainly due to speculation. I do not see any reason for the rupee go beyond 125 level.’
The rupee hit a record low of 133.50 on Wednesday, but has since recovered some ground and is trading around 130.50 a dollar on Monday.
(AGENCIES)_
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