Sri Lankan telephone dealers to reduce retail price amid rupee appreciation

Colombo [Sri Lanka], June 11: The Sri Lanka Telephone Dealers' Association on Saturday announced a 20 percent reduction in the prices of mobile phones.
The association's President SamithSenarath said the decision was taken due to the appreciation of the Sri Lankan rupee against the U.S. dollar.
Senarath said that there has been a 40 percent decline in mobile phone purchases over the past six months due to high prices, as a result of the increase in the dollar.
He said the rupee has appreciated against the dollar for several months and the time has come to pass the benefit to their customers.
According to the 2022 annual report released by the Central Bank of Sri Lanka, there are close to 30 million mobile phones being used in the country, which is more than the population of the country.
Source: Xinhua