Public continue to expect sharp LK Rupee depreciation above 220.00

Sri Lanka Rupee is administrated heavily by the monetary authorities as the country is running out of foreign currency reserves. CBSL has been entering into SWAPs, Credit lines, Bilateral agreements etc, to improve the reserves. Since many of those are short-term arrangements, the public perception of sharp LKR depreciation has, not changed. Due to the weak liquidity of the foreign currency, there are multiple price corridors have opened up. CBSL itself has offered different exchange rates to expects who send the worker remittance via official channels.