Rupee depreciates against the greenback

Rupee depreciates against the greenback

Written by Staff Writer

15 Sep, 2018 | 11:12 pm

Colombo (News1st): As the value of the rupee depreciates the value of 01 US dollar has increased to Rs. 164. In January 1977 the value of a dollar stood at Rs. 8.95.

At the time of the end of the tenure of then, Finance minister Ronnie de Mel, the value of the dollar increased to Rs. 36.

From there onwards during the tenure of R. Premadasa, Naina Marikkar and D.B. Wijethunge held the position of Finance minister. At the end of that era, the value of the dollar increased to Rs. 49 and 17 cents.

Later on, during the presidency of Chandrika Bandaranaike Kumaratunga, herself, K.N Choksi and Sarath Amunugama held the position of Finance minister. At this time the value of the dollar increased from Rs. 49 and 17 cents to Rs. 100.

Mahinda Rajapaksa held the positions of both the Finance minister and the president and at the end of his tenure in 2015, the dollar value increased to Rs. 135.

However, during the past 3 years of the government of Good governance, Ravi Karunanayake held the post of Finance minister and his predecessor was Minister Mangala Samaraweera. The value of the dollar continues to increase and it is now at Rs. 164.

What can the people do or say when this is the plight of the rupee?

When will we ever be able to smile in this country?

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