Sri Lankan Rupee Weakens Against US Dollar

According to the latest daily exchange rate data released by the Central Bank of Sri Lanka (CBSL), the rupee is trading at Rs. 294.13 for buying and Rs. 303.20 for selling. The spot exchange rate, a key indicator of currency value, has been recorded at Rs. 301.20.

This marks a notable depreciation of the local currency, reflecting ongoing pressures in the foreign exchange market. Analysts attribute the decline to a combination of external debt repayment obligations, reduced dollar inflows, and persistent economic uncertainties.

The last time the rupee crossed the Rs. 300 mark was in late September 2024, after which it saw a period of relative stability. However, today's movement signals renewed volatility in the currency market, raising concerns among importers and policymakers.

The Central Bank has yet to issue an official statement addressing the decline or outlining any immediate measures to stabilize the rupee.