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Sri Lanka Signs $500M emergency loan agreement with China as rupee hits record low

Sri Lanka secured a US$500 million loan from China Monday (Apr 12) in a desperate bid to shore up its foreign exchange reserves as the local currency hit a record…

Rupee to depreciate by 12% in 2021- First Capital

Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…