Minister of State for Finance Ranjith Siyambalapitiya says that the depreciation of the rupee in the last few days is a temporary situation. Speaking to the media, the state minister said that its value has been allowed to be determined based on demand and supply. The State Minister mentioned that there were 750 million dollars in Sri Lankan development bonds and it was agreed that the value of the development bonds would be paid in Sri Lankan rupees during the domestic debt restructuring.
They are going to buy this from dollar deposits and there is a need for the banks to collect the amount of dollars to save the depositors when they need it, and due to that, the banks limit the release of the dollars they have received to the market to a certain extent and since they can get some amount from the market in the last few days. Minister of State for Finance Ranjith Siyambalapitiya further stated that there was a devaluation of the rupee and an increase in the value of the dollar.
