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‘It is the speed of rupee depreciation
or appreciation against the dollar that matters’



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The US dollar depreciation/appreciation against the rupee is nether a barometer to determine the strength of the economy nor the strength of the currency/rupee. The most important matter is to look at how and at what speed the rupee depreciated or appreciated against the dollar, a top economist said.

"Currently, the US dollar has touched Rs 153.44 but this is not a parameter to determine the strength of the economy or the currency. When one looks at a developed economy like South Korea, as an example, they pay more "Won" for dollars, compared to the Sri Lankan rupee, which is an indication that appreciation of the dollar is not a parameter to determine the strength of the economy, Executive Director, Verite Research Dr Nishan de Mel told The Island Financial Review.

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