On July 21, the Sri Lankan Rupee faced further depreciation against the US Dollar, prompting commercial banks in Sri Lanka to adjust their exchange rates compared to the previous day.
At Peoples Bank, the buying and selling rates for the US Dollar rose to Rs. 317.26 and Rs. 332.87, respectively, showing an increase from Rs. 315.80 and Rs. 331.34.
Similarly, Commercial Bank reported an increase in the buying rate of the US Dollar from Rs. 317.20 to Rs. 318.19, while the selling rate also rose from Rs. 328.50 to Rs. 329.50.
Meanwhile, at Sampath Bank, the buying and selling rates of the US Dollar have risen to Rs. 319 and Rs. 332, respectively, compared to Rs. 317 and Rs. 330 on the previous day.
The continued depreciation of the Sri Lankan Rupee against the US Dollar poses challenges for the country’s economy and warrants close monitoring by financial authorities and stakeholders.