Rupee depreciates further against USD

The value of Sri Lankan Rupee has depreciated further against the US Dollar amid the coronavirus outbreak.

According to the Central Bank of Sri Lanka (CBSL) the current selling rate of the US Dollar today (6) stands at  Rs. 199.40.

CBSL last month directed banks to suspend the facilitation of vehicle imports and non-essential goods as well as to suspend the purchase of Sri Lanka’s International Sovereign Bonds to ease exchange rate pressure.

As another measure the CBSL requested all Sri Lankans and wellwishers living in Sri Lanka and abroad to consider depositing their savings and other funds in foreign currency within the Sri Lankan banking system -licensed commercial banks and specialized financial institutions –during the three month period commencing from 2nd April 2020.

Meanwhile, the government announced that importation of non essential items will be limited/ suspended until further notice.