Sri Lankan currency appreciates

Sri Lankan rupee has appreciated against the USD today (21 March) after an increasing trend that was noticed in the past 5 days. USD buying has reduced from Rs. 331.71 reported yesterday (20 March) to Rs. 316.84 today and selling rate has reduced from 349.93 to 334.87 according to the CBSL. These rates are according to the currencies quoted by commercial banks in Colombo for Telegrpah Transfers (TT).

The increase in the value of LKR comes in the wake of the IMF board approval for the Extended Fund Facility that was approved last night. However, the appreciation of the LKR is not yet reflected against other currencies such as the British pound and the Euro, which has remained around the same values albeit marginal fluctuations.