As of March 31, the dollar buying rate was recorded at Rs. 311.76, while the selling rate stood at Rs. 319.31. The Central Bank attributed the currency’s weakening to emerging challenges in the external environment, including pressures on foreign exchange inflows and global economic conditions.
Analysts suggest that fluctuations in export earnings, import demand, and remittance flows may be contributing to the rupee’s downward trend. Additionally, global factors such as interest rate movements and a stronger US dollar have continued to impact emerging market currencies, including Sri Lanka’s.
The Central Bank stated that it is closely monitoring developments in the foreign exchange market and stands ready to take appropriate measures to ensure stability.
Economic observers note that maintaining adequate foreign reserves and sustaining investor confidence will be key in managing further volatility in the months ahead.
