Dollar rate could come down to Rs. 300 – Ali Sabry

Colombo, Sept 2 (NewsWire) – The buying rate of the US Dollar may reduce to Rs. 300 in the near future, Foreign Minister Ali Sabry told Parliament today.

He said this may be possible with the increase in remittances, and funds to be received from the International Monetary Fund, Asian Development Bank, and World Bank.

The minister further said the move to completely close the open market has helped stabilize the rupee and reduce the gap between imports and exports.

“This has enabled the government to import the necessary essential items such as fuel and gas, and further stabilize the rupee,” he pointed out.

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Source: NewsAsia