Sri Lanka Sees Stable Rupee in Contrast to India Volatility

Tuesday, 10 September 2013 - 12:43



Sri Lanka’s central bank governor hailed the island nation’s ability to contain inflation and keep the currency stable as he sought to convince investors its economy is avoiding the pitfalls affecting neighboring India.


Central Bank Governor Ajith Nivard Cabraal said in an interview with Bloomberg that Stable interest rates and prices would help Sri Lanka’s rupee trade with less volatility than many other countries in Asia.


Cabraal is part of a delegation visiting Hong Kong to convince foreign investors to buy Sri Lankan stocks, which are among the cheapest in Asia at 11.5 times reported profit.