Rupee weakens after midweek rebound

Friday, 12 June 2026 00:20 - - {{hitsCtrl.values.hits}}

The rupee weakened against the US dollar yesterday, surrendering part of the gains recorded a day earlier as the interbank spot market closed at Rs. 335/337.50 compared to Wednesday’s close of

Rs. 332.25/330.

The currency had staged a sharp recovery on Wednesday after the Central Bank of Sri Lanka (CBSL) tightened regulations governing the conversion of export earnings, requiring exporters to convert proceeds into rupees within 30 days, down from the previous 90-day period.

The move helped the rupee appreciate significantly from Tuesday’s close of Rs. 337.00/Rs. 337.75, easing pressure on the currency following a period of heightened demand for foreign exchange.

Prior to the midweek rebound, the rupee had been on a weakening trend, with the USD/LKR spot rate closing at Rs. 335.75/Rs. 336.25 on Monday, compared to Rs. 330.00/Rs. 332.00 at the end of the previous week.