https://www.adaderana.lk/news/88932/sri-lankas-rupee-will-reverse-gains-and-plummet-20-fitch-says
Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions.
Fitch maintained its forecast for the rupee to weaken to a record low of 390 per dollar by year-end. The rupee advanced 3% to 317.7 per dollar on Wednesday, taking its annual gains to over 15%. That’s after the IMF said it plans to decide on a $2.9 billion bailout for Sri Lanka following China’s assurance that it will support the nation’s debt restructuring.
RANEEEEEEEEEEEEEL
Sri Lanka’s rupee will reverse gains and plummet 20%, Fitch says
Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions.
Fitch maintained its forecast for the rupee to weaken to a record low of 390 per dollar by year-end. The rupee advanced 3% to 317.7 per dollar on Wednesday, taking its annual gains to over 15%. That’s after the IMF said it plans to decide on a $2.9 billion bailout for Sri Lanka following China’s assurance that it will support the nation’s debt restructuring.
RANEEEEEEEEEEEEEL

