Economics

Sri Lankan Rupee Strengthens Against US Dollar

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.

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