LKR appreciates against foreign currencies

The Sri Lankan rupee has appreciated to a buying rate of Rs. 343.97per USD to and a selling rate of Rs. 356.73 per USD today (02 March) according to CBCL daily buying and selling rate, based on the average currency quoted for Colombo for Telegraph transfers by Commercial banks. Middle Exchange rate for selling USD has also reduced to Rs. 356.65. This is the lowest exchange rate that has been recorded since 2022.

Similar appreciation of the LKR can be seen against other foreign currencies, where the middle exchange rate for GBP (Great Britain Pound) has reduced (appreciated) to a buying rate of Rs. 411.11 and a selling rate of Rs. 429.32.

CBSL has also reduced the mandatory foreign exchange conversion rate which is applicable to commercial banks from 25% to 15%. This indicates that foreign currency liquidity in the country has improved since 2022.

by Daily News Sri Lanka

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