PA provincial councillors and Pradeshiya Sabha members were among the distinguished guests. Each invitee was asked to bring along 15 guests, men and women who worked hard to make him the number one winner. The grand event at Minister Ratwatte's Mahaiyawa residence also saw an intense baila session. Rupee plunge to lift prices By Faraza Farook and Nilika de Silva Traders yesterday said prices of food items and other commodities would go up following the devaluation of the rupee for the fourth time within the past seven months. Importers said they would be forced to increase the prices as a result of the devaluation.
Most importers are in a fix.
At this rate of devaluation, we can't survive. K. P. Sundaram, president of a trade association at Old Moor Street said importers would have to increase the prices of provisions at least by Rs. 1 per kilogram, though this increase was hardly sufficient to recover the loss. Shelton Kekulthota, a spokesman for the Duty Free Traders Association said prices were likely to go up by 10 percent in the coming month. The dollar per rupee rate went up from Rs. 84.70 on Friday, representing a rise of 16 percent within the past seven months.