Sri Lankan Rupee Continues to Weaken Against the US Dollar
On July 26th, the Sri Lankan Rupee experienced a further depreciation against the US Dollar, impacting commercial banks across the country compared to the previous day.
Peoples Bank recorded an increase in the buying and selling rates of the US Dollar, rising from Rs. 321.15 to Rs. 322.13 and from Rs. 336.95 to Rs. 337.97, respectively.
Similarly, at Commercial Bank, the buying rate of the US Dollar climbed from Rs. 322.65 to Rs. 324.64, while the selling rate also increased from Rs. 334 to Rs. 336.
At Sampath Bank, the trend continued with the buying and selling rates of the US Dollar rising from Rs. 323 to Rs. 324 and from Rs. 326 to Rs. 336, respectively.
The ongoing depreciation of the Sri Lankan Rupee against the US Dollar raises concerns about the country’s economic stability and calls for attention from financial authorities to address the situation.