* Rupee devaluation long overdue - treasury sec * Devaluation to cut trade deficit * ITC to invest $450 mln in hotel By Shihar Aneez COLOMBO, Nov 24 (Reuters) - Sri Lanka's rupee exchange rate should be driven by market forces except in cases of volatility, but this week's 3 percent devaluation was necessary medicine to ease a ballooning trade gap, the country's finance secretary said on Thursday. Finance Ministry Secretary P.B. Jayasundera, the top technocrat in the island ...
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