The value of the US Dollar in the black market has dropped by Rs. 20 today (12).
As of this morning, the black market value of the US Dollar was around Rs. 401 – 402 and now around Rs. 381 – 382.
Should foreign reserves accumulate between US$ 1 – 2 billion amidst the debt default situation in Sri Lanka, chances are high that the Dollar value will significantly depreciate against the Sri Lankan Rupee.
Accordingly, with the appointment of the new Prime Minister, the black market value of the US Dollar has started to fall as the dollar reserves of the country are expected to increase, indicating a sign for economic revival, sources said.
MIAP
