Sri Lankan Rupee hits Rs. 260 against US dollar
Posted by Editor on March 10, 2022 - 11:33 am
The selling rate of the US dollar at the daily exchange rate of several banks in Sri Lanka is reported as Rs. 260.
Accordingly, some leading commercial banks in Sri Lanka have today declared their selling rate for the US Dollar as Rs. 260 and the buying rate as around Rs. 250 per US Dollar, in the wake of the central bank’s decision to float the currency.
On March 07, the Central Bank of Sri Lanka (CBSL) announced that greater flexibility has been allowed in the exchange rate with immediate effect.
Before March 07, CBSL maintained the selling rate of the US dollar at Rs. 202.99.
But through informal methods such as Undial and Hawala, the dollar was exchanged for much higher values.
Latest Headlines in Sri Lanka
- Sri Lanka and United States discuss Economic Support and Reforms April 19, 2024
- Israeli missile strikes Iran amid escalating Middle East tensions April 19, 2024
- President says he will build a Sri Lanka that the youth aspire to April 19, 2024
- NPP presents 7-point pledge on Easter Sunday Attack to Cardinal Ranjith April 18, 2024
- Dialog Axiata to acquire Bharti Airtel’s telecom operations in Sri Lanka April 18, 2024
By next week, it will be Rs 300.
Citizens, the cost of living will sky rocket under Saubhagye Dekma and soon, you will need a wheelbarrow to carry the cash to buy groceries.
The Economic Committee appointed by the strongman (including 3 members of the family and leading cohorts) is supposed to meet weekly to manage the economic crisis.
Do they have a clue?