Sri Lankan exporters concerned over appreciation of rupee: Reports

This is as per media reports, which added represented by entities such as the Exporters Association of Sri Lanka, Joint Apparel Association Forum of Sri Lanka, National Chamber of Exporters, Tea Exporters Association, and Sri Lanka Association of Manufacturers and Exporters of Rubber Products, the exporters and industry bodies highlighted numerous difficulties stemming from an overvalued rupee.

In their collective statement, the associations reportedly emphasised their pivotal role in upholding employment and facilitating foreign exchange inflow, contributing significantly to Sri Lanka’s GDP even as they called upon authorities to address pressing issues resulting from the rupee’s appreciation against the US Dollar, coupled with constraints on foreign currency movement between commercial banks and mandatory export earnings conversion into Sri Lankan rupees.

ALCHEMPro News Desk (DR)