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Searched Tag: foreign currency
State Minister for Finance, Ranjith Siyambalapitiya, announced on Friday that Sri Lanka's rupee has begun to regain strength against major currencies, marking a positive turn in the country's economic outlook after facing severe depreciation since 2022.

Sri Lanka rupee regains ground against major currencies

May 3, 2024, 04:36 PM - 2 min read

The resurgence of the Sri Lankan currency follows a period of economic turmoil, highlighted by the nation's first-ever sovereign default in 2022. During this challenging period, Sri Lanka received crucial assistance from India, facilitating imports of essential goods and stabilizing the rupee through extended currency swaps provided by the Reserve Bank of India

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Cuba is facing a mounting cash crisis, with citizens struggling to access funds for everyday transactions amidst long queues forming outside banks and ATMs in the capital city of Havana.

Cash crisis hits Cuba: Long queues outside banks amid severe peso shortage

April 28, 2024, 09:25 PM - 2 min read

Perez points to the government's burgeoning fiscal deficit, the absence of banknotes with higher denominations than 1,000 Cuban pesos (approximately $3 in the parallel market), persistently high inflation rates, and the reluctance of cash return to banks as key factors contributing to the shortage.

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