National Inflation Surpasses 20% For The First Time In History

Year on year national Inflation in Sri Lanka for the month of March rose to 21.5%, up from 17.5% reported in March, as per the National Consumer Price Index (NCPI). This is the first time National Inflation in Sri Lanka rose above the 20% mark.

Inflation of food prices in March rose to 29.5% from 24.7% in February, while the inflation of non-food items was 14.5%, in comparison to 11% in February.

Dollar Soars To Rs. 285

According to Wealth Trust Securities, the exchange rate per dollar on spot contracts closed at Rs. 265/285, following trades ranging between Rs. 264.97 to Rs. 275

A total volume of $45.72 million for USD/LKR was seen last Friday, the 11th of March.

Markets Resurge As Hope Resurfaces

With prospects of Ukraininan peace talks looming in the future, global markets firmed in their standings. European and Western markets went on to put on stellar performances as news of possible peace talks were announced. Ever since tensions between Russia and Ukraine began, global markets saw substantial declines, owing to fears of sanctions and economic downfall.

Germany’s DAX rose by 3% today, while European and American markets rose by 1-2%.