Rupee weakens against USD

The Sri Lankan rupee depreciated to 303.19 against the US Dollar, on Wednesday, according to the Central Bank of Sri Lanka (CBSL).

The selling rate of the US dollar rose to Rs 318.99.

The rupee saw several weeks of appreciation against the US dollar.

The CBSL announced at the end of May that the Sri Lankan rupee had demonstrated a notable appreciation of 19.8 percent against the US. dollar during the year up to 26 May.

Sri Lankan rupee depreciated dramatically from 202 per dollar in March 2022 to around 360 after the government allowed the rupee to float.