Rupee appreciates against major currencies

Tuesday, 22 October 2013 00:35 - - {{hitsCtrl.values.hits}}

Given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against several major international currencies during the year 2013, Central Bank said yesterday. It said the rupee appreciated against the Japanese yen by 11.5%, the Indian rupee by 9.7% and the Australian dollar by 6.0% by 17 October 2013. However, the Sri Lanka rupee depreciated against the US dollar by 2.9%, the pound sterling by 1.8%, the euro by 5.2% and the Chinese yuan by 5.0% by 17 October 2013. Thus far, the Central Bank has absorbed US dollars 183 million from the domestic foreign exchange market, on net basis. This, together with the receipt of proceeds of bond issuances of the Bank of Ceylon in April and NSB in September, amounting to around $ 1 billion helped strengthen the country’s stock of international reserves, thus further stabilising of the Sri Lanka rupee.

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