Sri Lanka ranks 3rd in currency depreciation against dollar
According to John Hopkins University economist Professor Steve Hanke’s data reports, Sri Lanka has ranked third in the world in terms of the depreciation of the local currency against the US dollar, the foreign media reports.
According to the report, Zimbabwe holds the first position and the value of the Zimbabwean currency has depreciated by 73.33% compared to the US dollar.
The value of the currency has depreciated by 57.65% and Cuba is on the second position on the list and Sri Lanka is on the third position on the list.
That is due to the depreciation of the local rupee by 47.79%.