The Sri Lankan Rupee has shown signs of strengthening against the US Dollar, according to the Central Bank of Sri Lanka (CBSL). This development marks a significant shift, as it’s the first time since July 5th, 2023, that the buying rate for USD has dipped below Rs. 300.
The CBSL reports indicate a buying rate of Rs. 299.29 for the US Dollar, signifying a depreciation compared to previous rates. This is accompanied by a selling rate of Rs. 308.90. These figures suggest a narrowing gap between the buying and selling prices, potentially indicating a more stable exchange rate environment.