Global Oil Surge, Not Domestic Issues, Driving Current Rupee Depreciation: CBSL Governor

Central Bank Governor Dr. Nandalal Weerasinghe has stated that the current depreciation of the Sri Lankan Rupee is primarily driven by global factors, specifically the Middle East crisis and the resultant surge in global oil prices, which increases foreign exchange demand for imports. He emphasized that this situation is fundamentally different from the sharp rupee fall in 2022, which was an internal event due to domestic mismanagement. While other regional currencies have also weakened, the Governor noted that global uncertainties are making Sri Lanka's economic growth outlook for 2026 uncertain, with the impact dependent on the duration of these disruptions.