Exchange rates: Rupee indicates further strengthening against Dollar (May 26)
May 26, Colombo (LNW): The Sri Lankan Rupee recorded a noticeable improvement against the US Dollar on Tuesday, with several commercial banks adjusting their exchange rates amid renewed market confidence and stabilising foreign currency demand.
A number of leading banks revised their dollar selling rates downward, with some institutions offering the currency at nearly Rs. 326, signalling a stronger local currency position compared to the previous trading day.
NDB Bank reduced its US Dollar buying rate from Rs. 325.50 to Rs. 321.50, while the selling rate fell from Rs. 334.50 to Rs. 330.50. Commercial Bank also reported a significant decline in its rates, bringing the buying price down to Rs. 314.04 from Rs. 324.47, while the selling rate eased from Rs. 335.50 to Rs. 326.00.
Sampath Bank followed a similar trend, lowering its buying rate to Rs. 318 from Rs. 321.50 and trimming its selling rate from Rs. 330.50 to Rs. 327.00.
Meanwhile, People’s Bank recorded a slight upward adjustment in both rates, with the buying price moving to Rs. 321.57 and the selling rate increasing marginally to Rs. 330.67.
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