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LKR back on the decline

21 Apr 2021

After appreciating against the US Dollar by over 6.1% since its record low depreciation last Thursday (15), the Sri Lankan Rupee (LKR) once again depreciated by 1.68% yesterday (20) from its previous close, according to Central Bank of Sri Lanka (CBSL) data. The selling price of a US Dollar was recorded as Rs. 195.21 yesterday (20) while the buying rate recorded as Rs. 190.29 and this was an increase of Rs. 3.24 and Rs. 2.36 respectively from the previous day’s rates. As was indicated in the Central Bank daily statistics on Monday (19), the LKR bounced back to Rs. 191.9700 as the selling rate, and the buying rate stood at 187.9300, which was a 4.62% appreciation for the LKR.  The State Minister of Finance and Capital Markets and Public Enterprise Reforms Ajith Nivard Cabraal expressed this in a positive note while mentioning the former Economic Reforms Minister Harsha De Silva, and the global giants in credit rating and analysis for the financial market – Fitch Ratings Inc. and Moody's Investors Service – on his official Twitter account. However, State Minister Cabraal did not respond to the latest status of the LKR.


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