SL Rupee appreciates on CBSL guidance

Friday, 13 May 2022 11:39 -     - {{hitsCtrl.values.hits}}

The Sri Lanka Rupee today appreciated to Rs. 365 level to the US Dollar from Rs. 377 yesterday. This is following the Central Bank issuing guidance to inter-bank rate for the first time since the exchange rate was fixed in late last year as well as since the free floatation of the currency from early March this year. The issuance of daily guidance to smoothen volatility was announced by new CBSL Governor Dr. Nandalal Weerasinghe on Wednesday. CBSL now on will announce Middle rate of USD/LKR exchange rate for interbank transactions based on previous day's W/A spot rate in Inter bank market. Permitted USD/LKR variation margin will also bevannounced by the CBSL. ( Will be able to apply as plus or minus). Accordingly the middle rate for 13.05.2022 starts from 360.00 with a permitted variation of (+/-) 2.60. Banks have been requested to apply only reasonable margins in determining rates applicable for customer transactions.