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Finance Minister Ravi Karunanayake, who has seen a depreciation in his status over a series of bumbling acts, has urged the government to ditch the rupee and adopt the US dollar as the national currency in a bid to prevent further currency depreciation and also boost the country’s foreign reserves.
A statement issued by the minister today said, “Over the past few years we have seen the rupee depreciate against the dollar. There are several reasons for this including climate change, our distance from the U.S.A and because they don’t play cricket. But it has nothing to do with our economic and finance policy. Some people may point out that my scheme to get gullible billionaires to place their money in the country hasn’t had any effect on the exchange rate despite my assurances. I also promised to get the rupee to Rs 110 when they rupee was 135 against the dollar . Since then the rupee has actually depreciated to nearly 150. So if I keep my mouth shut, the situation may improve.”
“However, I think now the best thing to do is to adopt the dollar as our national currency. That will guarantee an improvement in the exchange rate and I promise a 1:1 value in the currencies. Of course and as usual don’t take my word for it. There is a possibility that the US dollar to US dollar used in Sri Lanka exchange rate might slide to 1:5 if I am involved.” he added.
Since Ravi’s statement was issued the rupee has further depreciated.
