BMI Research: Emerging Markets Monitor: LKR: Rupee Vulnerable to Further Depreciation.

This article forecasts that Sri Lankan rupee could depreciate further in 2009. It explains that the Central Bank of Sri Lanka may pursue a policy of gradual rupee depreciation as the currency comes under pressure from an elevated current account deficit. The monetary policy also seems to go in the direction of expansion. It predicts that the Sri Lankan rupee will trade against the U.S. dollar at 115 in 2009.