Dollar trades at 370/385 in open market

Sri Lanka’s rupee was quoted as 322.72 buying and 334.99 selling by the Central Bank yesterday. In the open market the dollar was trading around Rs. 370/385 but it was showing a decline from the previous Rs. 400 plus figure.

The Central Bank and the Government have already begun working closely with the International Monetary Fund (IMF) to formulate a sustainable solution to overcome the macroeconomic challenges faced by the country at present and economists say that the rupee is expected to stabilize gradually to some extent.