LKR appreciates 6.6% against USD

Tourism reached the USD 700 million figure by the end of March while foreign remittances were at USD 963 billion and earnings from tourism were at USD 687 million up to February.

Earnings from tourism also showed a rapid increase on a year-on-year basis in February with 2023 totalling USD 161.1 million and 2024 February more than doubling it to USD 345 million.

During the year up to 22 March 2024, the Sri Lanka rupee appreciated against the US dollar by 6.6 per cent. First time after several months it also lowered below the Rs. 300 barrier. Given the cross-currency exchange rate movements, the Sri Lanka rupee appreciated against the Japanese yen by 14.2%, the pound sterling by 7.3%, the Euro by 8.8%% and the Indian rupee by 6.7% during this period.

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