The Sri Lanka Rupee will appreciate against the US dollar from the present Rs. 299 to stand between Rs. 250 and Rs. 260 soon, predicts professor of economics at Peradeniya University Wasantha Athukorale.
The LKR will strengthen further as a result of remittances being sent in by an increased number of expatriate workers and a considerable increase in tourist arrivals, he said.
Also attributed to the LKR’s appreciation are the loans and grants given by the International Monetary Fund and the World Bank.
However, it should not be forgotten that foreign debt repayments remain suspended, said Prof. Athukorale, adding that a reduction in the dollar inflow will turn things upside down.
