SL rupee depreciates sharply against the US dollar

COLOMBO (News1st): The Sri Lankan rupee which depreciated to Rs 192.65 against the US dollar today (Apr 1), had depreciated 4.7 percent by March 30, the central bank said. “The Sri Lankan rupee, which remained broadly stable in the month of January as well as until the first week of March, depreciated sharply with the speculative behaviour in the market with the spread of COVID-19 outbreak,” the central bank said. Reflecting cross-currency movements, the rupee depreciated against the US dollar, the euro and the Japanese yen while appreciating against the pound sterling, the Canadian dollar, the Australian dollar and the Indian rupee during the year up to 30 March 2020.