sri lanka depreciates currency by 3
Last Updated : GMT 05:17:37
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Last Updated : GMT 05:17:37
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Sri Lanka depreciates currency by 3%

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Emiratesvoice, emirates voice Sri Lanka depreciates currency by 3%

Colombo - AFP
Sri Lanka\'s president announced Monday a surprise three percent depreciation of the country\'s currency against a basket of currencies, saying it aimed to remain competitive in export markets. \"I have asked the Central Bank (of Sri Lanka) to depreciate the rupee by three percent,\" President Mahinda Rajapakse told parliament as he was unveiling the island nation\'s 2012 budget. \"This is to remain competitive with our neighbours,\" he said.

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