Glimpses of Indian rupee in trade between India and Sri Lanka



 Sri Lanka has no objection to the use of the Indian Rupee in Sri Lanka's trade with India. In 2022, Sri Lanka was troubled by loans from China. At that time India helped Sri Lanka 400 core dollars which is 32000 crore rupees in Indian value. Sri Lankan President Ranil Wickremesinghe thanked the Indian government for this and agreed to trade with India in Indian currency. He said, we have no objection on uniform use of Indian currency. Such a message is considered significant ahead of plans to tour India this year.

       Besides, Sri Lankan Foreign Minister Ali Sabry, who is visiting India, spoke about increasing the use of the Indian currency in comparison to the dollar in trade at a businessmen's conference.

In the last year 2022, Sri Lanka suffered severe financial crisis. There was great anarchy throughout the country, and the prices of daily necessities rose steadily. In that situation, mass protests broke out across the country, forcing the then President Gotabaya Rajapaksa and his brother Prime Minister Mahinda Rajapaksa to flee the country. Sri Lanka has been successful in dealing with the financial crisis by receiving financial aid from India after becoming president. He publicly thanked India for this and said that his main aim now is to strengthen the country's economy by cooperating with India in all possible ways.

                        Earlier we saw that the trade of Indian currency with Bangladesh started on 11th July 2023. Meanwhile, this news is very happy and profitable for India.



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