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Forex

Sri Lanka Rupee Strengthens Against US Dollar Amid Fuel Price Hikes

Guavy AI Editorial Team
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USD
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The Sri Lankan rupee strengthened against the US dollar in the spot market on August 31, closing at 328.10/30, a stronger rate than its previous close of 327.98/328.04. Bond yields remained steady on selected tenors, while the rest of the yield curve consolidated.

The Central Bank's Overnight Policy Rate has been kept steady in its last monetary policy meeting. The rupee's strengthening comes after the government raised fuel prices by nearly 50 percent following a supply shortage due to Middle East escalation and higher global oil prices.

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