Rupee appreciates 7% against US dollar in three days

Wednesday, 27 May 2026 00:22 - - {{hitsCtrl.values.hits}}

The rupee strengthened against the US dollar for the third consecutive session yesterday.

The currency has appreciated by about 7% since last Thursday. The indicative telegraphic transfer LKR/USD exchange rate eased further to Rs. 318.32/328.69 yesterday, down from Rs. 326.01/336.42 on Monday and Thursday’s peak of Rs. 342.63/354.03.

The buy/sell LKR/USD interbank spot contracts closed at Rs. 322.00/325.00 yesterday, easing further from Rs. 325.50/Rs. 327.00 on Monday and Thursday’s Rs. 331/Rs. 348 level, which marked the currency’s weakest level against the dollar last week, after the Central Bank of Sri Lanka (CBSL) used moral suasion to calm a panicking market.

Unlike past currency crises, the Central Bank did not excessively sell down reserves. Instead, the bank capped trades at Rs. 330 for some banks and told banking treasury officials that additional measures may be introduced to compel exporters to convert their dollar earnings sooner.