USD hikes against LKR to all time high

sri lankan rupees and us dollars

Image copyrights - internet

For the first time in Sri Lankan history, USDLKR hiked to the all time high which is 154.70 on yesterday. Which is a good news for exporters and bad news for importers. 

USDLKR Price chart for one month via bloomberg

One month price chart of USDLKR via bloomberg 

For the first time in Sri Lankan history USD recorded a price of 154.70 against LKR and which is a massive impact to the country and a remarkable downfall of the country's economy though the political members of parliament stated the Sri Lankan economy is booming in media. With related to the bond scam which taken by the perpetual treasuries and the decreasing manufacturing index of the country and the open economy concepts that the prime minister tries to implement without strengthening the local manufacturing has damaged the basic economical benchmarks of the country's economy in many ways.