The Sri Lankan Rupee is not under any pressure, said Finance Minister Ravi Karunanayake at a media briefing at the ministry this morning (25 February) when the media asked him whether the local currency has depreciated recently and whether it is under pressure.

“The Rupee is not under any pressure. But a certain section is trying to show that the Rupee is under pressure and is depreciating when it is actually not,” said Minister Ravi Karunanayake.

However, while announcing that it would maintain its policy interest rate unchanged at between 6.5 to 8.0 per cent for February as well, the Central Bank of Sri Lanka stated that the Sri Lankan Rupee has depreciated by 1.4 per cent as against the US dollar.