The drop in the US Dollar rate at present is due to Sri Lanka not actively engaging with the international market, National People’s Power (NPP) leader MP Anura Kumara Dissanayake stated.
Addressing a public rally, the MP stated that Sri Lanka required dollars for three key reasons, which are the repayment of loans, importation of goods, and the Central Bank’s efforts to increase Sri Lanka’s foreign reserves.
“We need Dollars to repay loans due to which the Dollar rate increased. However, at present Sri Lanka does not require to repay its loans. The ban on several imported goods has also reduced the import cost, so we do not require dollars for this purpose too. The Central Bank is also not purchasing dollars to maintain foreign reserves,” he explained.
MP Anura Kumara Dissanayake stated as Sri Lanka was not engaging with the international market there were excess dollars in the banks currently, a result of which there is a continued drop in the US Dollar rate at present.
He also pointed out that the continuous drop in the Dollar rate will result in Sri Lanka’s economy further shrinking, due to which the public’s suffering will only increase in the future.
Stating that this must be prevented, MP Anura Kumara Dissanayake assured that the NPP will bring about the necessary change. (NewsWire)
