Sri Lankan Rupee Depreciation
The Sri Lankan rupee has experienced significant depreciation against the US dollar, with exchange rates crossing Rs. 350. This trend has been noted across commercial banks and the Central Bank of Sri Lanka, causing economic concern.
The Sri Lankan Rupee is doing the world's saddest limbo dance - how low can it go? At this rate, Monopoly money might have better exchange value, and I'm only half-joking.
Sri Lankan Rupee (LKR) experienced a sharp depreciation against the US Dollar. According to official exchange rate data released by the Central Bank of Sri Lanka (CBSL), the daily selling rate of the US Dollar surged to Rs. 354.03 on May 21, up from Rs. 342.70 just a day prior on https://t.co/sUBote9T3M
The Sri Lankan rupee has depreciated further against the US dollar across commercial banks in Sri Lanka today (21), compared to Wednesday, with the selling rate crossing Rs. 350. According to Seylan Bank, the buying and selling rates of the US dollar remain unchanged at Rs. https://t.co/e5nzs41Cyu