Fitch Ratings predicts that the Sri Lankan Rupee, which has achieved high strength in the first quarter of the year, will fall again by the end of the year amid hopes of the approval of the International Monetary Fund’s credit facility.
Although the IMF credit facility may be approved soon, the economic crisis and local government elections will create obstacles in the country to hold on to the agreement reached with the International Monetary Fund, says Fitch Ratings.
By the end of the year, the value of one dollar will rise to 390 rupees, Fitch Ratings has speculated.