Sri Lanka rupee set to fall further
A combination of factors is undermining the Sri Lankan rupee (LKR). High oil prices are considered a major threat to the economic growth outlook and oil import costs have soared since the beginning of the year. With current oil prices well above first-quarter rates and no sign of a sharp downward adjustment on the horizon, such pressures are likely to worsen.
Significantly, the rise in oil prices has yet to feed into the economy – the government has frozen fuel costs since February. This cannot
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