Reduction of Sri Lankan Rupee by 3% to dollar has wiped off $1 of CentralBank reserve

[ibnanv]

Reduction of Sri Lankan Rupee by 3% to dollar has wiped off $1 of Central Bank reserve. It also tanked the Colombo Stock Exchange. It made all essentials prices to go up from January. Import like Crude Oil, Coal, Milk, Sugar, Wheat all go up in price. It only benifits small business of exporter. Compared to Large Imports. Sri Lanka is in the business of trading economy . By depreciating value. It only harms the consumers. Not the Government or business men.

 

[lkdood]

 

[eranga_rama]

"Reduction of Sri Lankan Rupee by 3% to dollar has wiped off $1 of Central Bank reserve."

doenst make sense. therotically reduction of rupee should strengthen the central bank reserves.