Persons who had stashed away their dollars after believing certain political parties are in a quandary today, said minister Mahinda Amaraweera.
Expatriate workers did not send in their remittances for some time as they heeded calls by these parties that campaigned against the inflow of dollars, he said.
Improvements in tourism and export earnings and a halt to loan repayments have all contributed towards a strengthening of the rupee, said Amaraweera.
With the rupee appreciating now, expatriates have started sending in the dollars they had stashed away, he claimed.
Patali’s analysis
Meanwhile, MP Patali Champika Ranawaka said Undial and Hawala money transfer methods have lost their attraction as the dollar is trading in the open market at prices lower than in state banks.
The Central Bank should allow the rupee to float, he said and commented on the opening of open accounts for imports and the fluctuations in the currencies.
Meanwhile, president of the Sri Lanka Constructors Association Susantha Liyanarachchi said the government should lift restrictions on imports and exports to see if the rupee has actually appreciated as claimed by the CBSL.
