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Sri Lankan rupee depreciates 6.8% against USD in four months

The Sri Lankan rupee has depreciated 6.8 percent over the past four months this year.

At the end of 2020, the Sri Lankan rupee was valued at 186.40 against the US dollar.

The rupee had dropped to 199.93 rupees last Friday.

The exchange rate remained relatively stable in February 2021 due to increased customer inflows into the domestic foreign exchange market.

Accordingly, the rupee depreciated slightly by 0.2 percent against the US dollar in February.

The Central Bank of Sri Lanka absorbs US $ 23 million on a net basis during the month with the regulation of all licensed banks to sell 10% of remittances and 50% of export earnings to the Central Bank of Sri Lanka for conversion into rupees from 18 February 2021 Was able to.

The rupee depreciated 4 percent against the euro, 7.5 percent against the pound sterling and 7 percent against the Australian dollar, according to the Central Bank of Sri Lanka.