Sri Lankan gov't expects rupee to strengthen against USD

Colombo [Sri Lanka], February 14: The Sri Lankan government expects the rupee to strengthen against the U.S. dollar and trade at around 280 rupees per dollar in the near future, cabinet spokesman Bandula Gunawardena told reporters on Tuesday.
Addressing a press conference, Gunawardena said the dollar was sold for over 400 rupees in the country in 2022, during the height of the economic crisis.
However, the exchange rate now stands at 314 rupees per dollar, he said, adding that the dollar will drop to about 280 rupees.
Gunawardena also said that land prices will drop from the current high rates, and rent in the main Sri Lankan towns has already fallen sharply.
Source: Xinhua