Today: 6 May 2025
11 March 2022
1 min read

Currency depreciation lands Lanka in soup

The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR….reports Asian Lite News

The prices of a number of essential items in Sri Lanka increased on Friday after the country’s central bank allowed the country’s rupee (LKR) to devalue to 230 per US dollar.

On Friday, the All Ceylon Bakery Owners Association increased the price of a loaf of bread by 30 LKR, and the new price of a loaf of bread is between 110 to 130 LKR, reports Xinhua news agency.

The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR.

Meanwhile, Lanka Indian Oil Corporation, the country’s second-largest retail fuel distributor, increased the selling price of diesel by 75 LKR per liter and petrol 50 LKR per liter on Thursday midnight.

Three-wheeler and bus owners’ associations claimed that there will be drastic increases in fares with the hike in fuel prices by Lanka India Oil Corporation, demanding a fuel subsidy.

Anjana Priyanjith, chairman of the All Ceylon Private Bus Owners Association, warned that the minimum bus fare will be between 30 and 35 LKR, urging the government to provide a diesel subsidy for private bus owners.

The price of airline tickets was increased by 27 per cent, said Sri Lanka’s Civil Aviation Authority.

The Central Bank of Sri Lanka on Monday allowed the LKR to devalue considering the severity of the external shocks and recent developments in the domestic front.

The LKR on Thursday depreciated to 260 per US dollar from 200 per dollar before depreciation.

ALSO READ: Lanka woos foreign investors

Previous Story

EU, UK open probe into Google-Meta ad deal

Next Story

UN warns of impending famine in Yemen

Latest from -Top News

UAE Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

India Rises, Africa Watches 

While struggling economies in Africa engulf themselves in ideological battles and take sides in the tariff battles, nations like India are placing their national interest first and navigating Global Trade challenges in

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of
Go toTop

Don't Miss

Inflation slows in June, easing pressure on BoE

The Office for National Statistics said that falling of fuel

India’s PhonePe Debuts in Lanka

PhonePe announced that it has enabled UPI payment acceptance in