Mar 02, 2018

Foreign debt rises due to Rupee’s depreciation! Featured

Foreign debt has risen by around Rs. 84,456 million due to the depreciation of the Sri Lankan rupee against the US dollar, from Rs. 155.23 to Rs. 157, in the past three months, reports say.

By the end of 2016, total foreign debt stood at 46,585.7 US dollars.

Also, the depreciation of the rupee has resulted in an increase in the import expenditures.

That could have an adverse impact on the economy, at a time when the oil prices are also likely to go up in the world market, economists warn.