Rupee edges lower against US dollar

Thursday, 28 May 2026 06:06 - - {{hitsCtrl.values.hits}}

The rupee depreciated against the US dollar yesterday, with the indicative telegraphic transfer LKR/USD buy/sell exchange rate edging higher to Rs. 320.40/Rs. 330.81, up from Rs. 318.32/Rs. 328.69 on Tuesday, but down from Rs. 326.01/Rs. 336.42 on Monday and Thursday’s peak of Rs. 342.63/Rs. 54.03.

The buy/sell LKR/USD interbank spot contracts closed at Rs. 328.50/Rs. 332.00 yesterday, up from Rs. 322.00/Rs. 325.00 on Tuesday, but lower than Thursday’s Rs. 331/Rs. 348 level, which marked the currency’s weakest level against the dollar last week, before the Central Bank of Sri Lanka (CBSL) used moral suasion to calm a panicking market.

Unlike past currency crises, the CBSL 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.

CBSL Governor Dr. Nandalal Weerasinghe said the Bank was prepared to use moral suasion to contain excessive volatility amid growing global supply disruptions caused by the Middle East war.