March 11, 2022
1 min read

Currency depreciation lands Lanka in soup

The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR….reports Asian Lite News

The prices of a number of essential items in Sri Lanka increased on Friday after the country’s central bank allowed the country’s rupee (LKR) to devalue to 230 per US dollar.

On Friday, the All Ceylon Bakery Owners Association increased the price of a loaf of bread by 30 LKR, and the new price of a loaf of bread is between 110 to 130 LKR, reports Xinhua news agency.

The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR.

Meanwhile, Lanka Indian Oil Corporation, the country’s second-largest retail fuel distributor, increased the selling price of diesel by 75 LKR per liter and petrol 50 LKR per liter on Thursday midnight.

Three-wheeler and bus owners’ associations claimed that there will be drastic increases in fares with the hike in fuel prices by Lanka India Oil Corporation, demanding a fuel subsidy.

Anjana Priyanjith, chairman of the All Ceylon Private Bus Owners Association, warned that the minimum bus fare will be between 30 and 35 LKR, urging the government to provide a diesel subsidy for private bus owners.

The price of airline tickets was increased by 27 per cent, said Sri Lanka’s Civil Aviation Authority.

The Central Bank of Sri Lanka on Monday allowed the LKR to devalue considering the severity of the external shocks and recent developments in the domestic front.

The LKR on Thursday depreciated to 260 per US dollar from 200 per dollar before depreciation.

ALSO READ: Lanka woos foreign investors

Previous Story

EU, UK open probe into Google-Meta ad deal

Next Story

Iran nuclear talks on ‘pause’ after Russian demands

Latest from -Top News

Hamas Reiterates Peace Effort After U.S. Jab

Hamas Reaffirms Commitment to Ceasefire Talks After U.S. Criticism…reports Asian Lite News Hamas on Friday reiterated its commitment to the ongoing ceasefire negotiations, responding to remarks by U.S. Special Envoy to the

No smoking gun in Epstein files: Trump briefed

Attorney General Pam Bondi briefed Trump and Deputy Attorney General Todd Blanche at the White House in May….reports Asian Lite News US President Donald Trump was informed earlier this year that his

Israel, US recall teams from Gaza truce talks

Steve Witkoff said mediators had made a great effort but “Hamas does not appear to be coordinated or acting in good faith”…reports Asian Lite News Israel and the United States recalled their

Trump presses Fed chief to cut rates

Fed chair pushes back on Trump criticism of renovation costs as president presses central bank to cut interest rates…reports Asian Lite News Donald Trump sparred with the Federal Reserve chair, Jerome Powell,

Dubai turns malls Into fitness zones

Dubai’s Mallathon reimagines shopping centres as fitness zones, encouraging residents of all ages to walk, run, and connect—fostering healthier habits in air-conditioned comfort….reports Asian Lite News In a bold move to blend
Go toTop

Don't Miss

Row erupts over Maldives’ Nasheed representing Lanka at COP27

Other prominent Maldivian politicians including former president Maumoon Abdul Gayoom

Chinese spy ship reaches Lanka

Chinese vessel ‘Yuan Wang-5’ is widely believed to be a