Deputy Minister of Finance and Planning Anil Jayantha Fernando stated that the recent depreciation of the Sri Lankan rupee should not be portrayed as an economic crisis.

He noted that the exchange rate fluctuation was driven by higher fuel prices linked to the Middle East conflict and increased demand for foreign currency.

Fernando stated that Sri Lanka continues to receive foreign exchange through exports, tourism and workers’ remittances, adding that the US dollar exchange rate has returned to the Rs. 330 range following market interventions.