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

UN warns of impending famine in Yemen

Latest from -Top News

Top Indian Officials Head to Washington

The visit, likely next week, follows US President Trump’s claims that his administration helped broker the recent India-Pakistan ceasefire….reports Asian Lite News Top sources revealed on Sunday that Foreign Secretary Vikram Misri

India, Canada Discuss Enhancing Diplomatic Relations

Canada’s new Prime Minister Mark Carney is pushing for deepening economic cooperation with India….reports Asian Lite News External Affairs Minister S. Jaishankar held his first phone call with Canadian counterpart Anita Anand,

Ramaphosa gains from US showdown

South African President’s conduct with Trump reminded South Africans of his diplomatic pedigree, and of his importance to the country’s rules-based order South Africa’s President Cyril Ramaphosa and his delegation went to
Go toTop

Don't Miss

Grocery price inflation falls at fastest rate on record

The average household spent £28 more on groceries across the

Lankan envoy meets Sitharaman, thanks India’s assistance

It was the latest of a series of meetings High