Sri Lanka’s Rupee Plunges to Worst-Performing

Sri Lanka’s rupee has plunged to a record low to become the world’s worst-performing currency, as president Gotabaya Rajapaksa struggles to contain a worsening economic and political crisis, the Financial Times reported.

The currency was hovering near 300 per US dollar on Wednesday, down 32% in the year to date and lagging behind even Russia’s rouble, after Rajapaksa ended emergency rule just days after it was imposed.

Read the full report: Financial Times

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.