Srilankan currency

Sri Lanka is going through an economic meltdown of a scale unseen since the country's financial crisis of 1948, right after it secured independence from the British Empire. The government, on Tuesday, 22 March, ordered its troops to prevent violence from breaking out at petrol stations as spontaneous protests erupted among motorists lined up for fuel. In a shocking incident over the weekend, the police stated that two men had collapsed and died while waiting in separate queues to buy fuel. Sri Lanka relies heavily on its imports. It imports petroleum, food, paper, sugar, lentils, medicines, and transportation equipment, among other essential items. The lack of foreign currency means the country does not have the money to buy (import) these commodities. Imports are so essential that the government had to cancel examinations for millions of school students because it ran out of printing paper. "School principals cannot hold the tests as printers are unable to secure foreign exchange to import necessary paper and ink," the department of education of the Western Province stated on 20 March. The situation in Sri Lanka is so critical that the government had to suspend operations at its only fuel refinery because it ran out of crude oil stocks, according to Ashoka Ranwala, the president of the Petroleum General Employees' Union, as reported by Reuters. Additionally, the second largest gas supplier in Sri Lanka, Laugfs Gas, bumped up prices on Sunday by 1,359 rupees ($4.94) for a ...

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