Mark Baker, the head of fixed income at abrdn plc in Hong Kong, predicts a relatively stable future for the Sri Lankan rupee. Despite the gradual removal of import restrictions, the currency has already experienced significant growth this year, making it the best-performing currency in the world with a 20% appreciation against the US dollar.
While import restrictions are likely to be gradually removed, Baker expects the Sri Lankan rupee to be relatively stable, after clocking a 20% appreciation against the dollar so far this year, making it the world’s best performer. (Bloomberg)