What did you all do to the rupee that was in a good state when Ranil handed over the country? - A letter from UNP

The United National Party (UNP) has strongly accused the current government regarding the uncontrolled and rapid depreciation of the Sri Lankan Rupee against the US Dollar. They point out that the value of the dollar, which was Rs. 292 when former President Ranil Wickremesinghe handed over power to the current government about twenty months ago, has now significantly increased to Rs. 354.

The party emphasizes that the current government's failure to continuously implement the economic program initiated by the former president, the lack of a proper economic plan, and the inability to attract foreign investments are the main reasons for the rapid rise of the dollar.

The private sector has also expressed deep concern that the rupee will depreciate further amidst severe domestic and international pressures. The United National Party points out that although some export industries have made significant profits due to the depreciation of the rupee, the rapid increase in the cost of living in the country as a result has led to severe economic difficulties for both the working population and the general public.

It has also been stated that while exporters in industries such as apparel expect their exports to increase, they have not taken into account the contracting nature of the international market. European markets, in particular, are under severe pressure and are looking for alternative methods to limit their imports. Furthermore, under President Donald Trump, the United States is currently focusing its primary attention on preventing Iran from resorting to nuclear weapons rather than on economic control. The party further states that due to the closure of the Strait of Hormuz and the crisis in the Red Sea, disruptions to maritime traffic will further increase shipping costs, which is by no means a favorable situation for Sri Lanka's export industry.

Meanwhile, the United National Party also accuses Minister Anil Jayanth of having requested various organizations to portray the depreciation of the rupee as a positive development to society. Due to the Minister's influence, many organizations have decided to remain silent on this matter, while the Joint Apparel Associations Forum has endorsed the Minister's view, stating that the depreciation of the currency is a positive sign for their industry.