The Sri Lanka Rupee has begun depreciating against the US Dollar due to the relaxing of import restrictions, State Minister of Finance Ranjith Siyambalapitiya stated.
Speaking to the media, State Minister Siyambalapitiya stated that the Central Bank of Sri Lanka is currently working on managing the fluctuation.
The Sri Lankan Rupee has continued to depreciate against the US Dollar over the last few days with the spot rate of the Central Bank surpassing the Rs. 300 mark.
Several licenced commercial banks in Sri Lanka also declared their buying rate of the US Dollar between Rs. 311 to Rs. 315 today, while the selling rate rose up to Rs. 330.
Commenting on the Dollar rate, State Minister of Finance Ranjith Siyambalapitiya stated that the public need not panic over the increase in the Dollar rate.
“The Dollar rate is decided based on demand and supply. The Central Bank recently acquired 03 billion dollars. As a result, the Dollar rate is being maintained at the current levels. If not, the Dollar rate would have increased further,” he added. (NewsWire)