Sri Lanka's Rupee Depreciates Against USD Amid Rate Hikes

The Sri Lankan Rupee has continued to depreciate against the US Dollar in commercial banks across Sri Lanka, as of September 28. The selling rate has increased to Rs. 335 in some banks, up from last Friday's rates.

Seylan Bank reports no change in its buying and selling rates at Rs. 325.95 and Rs. 335.20 respectively. However, other banks have seen slight increases in their rates, with NDB Bank's buying rate rising to Rs. 326.00 from Rs. 325.50.

People's Bank also reports a marginal increase in its buying rate to Rs. 326.43 and a corresponding rise in the selling rate to Rs. 334.52. Commercial Bank's rates remain unchanged at Rs. 324.34 for buying and Rs. 334.25 for selling.