The currency's recent depreciation reflects fundamentals, such as market expectations of differing monetary policy paths between the US and Japan, the IMF said

Sri Lanka is in talks with the IMF for a loan package to help navigate its worst economic crisis in seven decades

Airbnb refused to refund users who complained about being misled, saying they had chosen to view rates in US dollars even though users said they had not, the ACCC said

Russian news agency Sputnik said the move was designed to bolster cooperation among Shanghai Cooperation Organisation nations ``as a bulwark against US sanctions.''

Prime Minister Ranil Wickremesinghe, who took office last month, has raised taxes to shore up government revenues and plans to cut expenditure

The government announced it would raise fuel prices after an agreement with the IMF that included an end to fuel subsidies, allowing the resumption of aid

Calls for reduced reliance on the dollar system and boosting the yuan to become a robust, globally-traded reserve currency come in the wake of deteriorating relations with the West

China's yuan has seen its best week in about 18 months, extending gains on Monday against the dollar, as Shanghai lifted more Covid restrictions

The bank said inflation would remain elevated in the near-term due to supply-side pressures while economic growth will also record a setback

The rupee weakened to about 198.39 to the dollar on Wednesday, the central bank said, a historic low that means it has lost almost a quarter of its value in the past year

Hit hard by the pandemic, rising oil prices and populist tax cuts, Sri Lanka's dire economic situation has led to spiralling inflation and shortages of essential supplies

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