MONETABRIEF – Sri Lanka's Cabinet of Ministers had approved raising bus fares to account for the depreciation of the rupee and fuel price hikes in the wake of the war in the Middle East, spokesman Nalinda Jayatissa said.
Rupee depreciation had increased cost including spare parts, a committee appointed to go in to the fare hike had said.
The National Transport Commission had been given the go ahead to hike fares, taking into account the reduction in fuel prices on June 30.
Sri Lanka's rupee collapsed from around 292 to 335 over the past year with the steepest fall taking place in 2026 as the central bank bought dollars printing money (monetized the balance of payments) and refused to honor the notes under the flexible exchange rate. (Colombo/July01/2026)