For the first time in history the LKR decreased to a rate of around 300 LKR for 1 USD. When considering the last 0 years it has decreased by a percentage over 2200% with respect to USD.
In a 70 year history since Independence, according to an analysis the Sri Lankan Rupee is down by as much as 4,942.5% or by 49 times vis-à-vis US dollar from Rs. 3.32 per US Dollar ($) in 1948 to latest rate of Rs. 167.4125 per US Dollar ($). Inversely, 1 Ceylon rupee was equal to US $ 0.30 in 1948. This means that US cents 30 could buy one Ceylon rupee at independence. Today, a meagre US cents 0.0059 is sufficient to buy one Sri Lankan Rupee. source
The mismanagement of the economy by all the governments who ruled the country should responsible for this situation.
Yeah. Economy should be managed by well educated persons with long term plans. Otherwise this problem may get worse day by day...... Hope this economic crisis may solve quickly
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Let's hope for the best ! Everyone abuse the system when they get power. It's common for every place. This must be changed by the formation of a proper system.
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