Sri Lankan Rupee further depreciates against US Dollar


The Sri Lanka Rupee hit a record low today (08) as it fell further against the US Dollar amid the COVID-19 outbreak.

The selling rate of the US Dollar now stands at Rs 200.46, according to the Central Bank of Sri Lanka (CBSL).

This is the first time in Sri Lankan history that the selling rate of a US dollar has exceeded Rs 200 mark.

Meanwhile, the buying rate of the US Dollar has risen to Rs 193.95.

The Sri Lankan rupee, which remained broadly stable in the month of January as well as until the first week of March, depreciated sharply with the speculative behaviour in the market with the spread of COVID-19 outbreak.

Accordingly, the rupee recorded a depreciation of 4.7% against the US dollar by 30 March 2020, latest External Sector Performance report of the Central Bank of Sri Lanka outlined.