SL Rupee value climbs

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The Sri Lankan Rupee has appreciated after continuous fall in the recent past with the selling rate of the US Dollar reducing to 180.90 from Friday’s 181.46 showing a small climb in the currency.

The buying price of the US dollar is recorded as 176.93 by the Central Bank.

The Sri Lankan Rupee has depreciated by 15.1 per cent against the US dollar during the year up to 29th November 2018, the latest external sector data had shown.

Furthermore, reflecting cross currency movements, the rupee also depreciated against other major currencies during this period.

The weakening of the Sri Lankan rupee against the US dollar mostly reflects a broad based strengthening of the US dollar globally, outflows from the government securities market and demand for import expenditure in the foreign exchange market.

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