Sri Lanka Rupee depreciates further

by Staff Writer 15-01-2021 | 5:33 PM

Colombo (News 1st); Sri Lanka has Rupee further depreciated to 196.05 rupees against the US dollar.

The current buying rate of the US Dollar today stands at Rs.190.77.

This is the highest-selling rate recorded for a US Dollar since 24th December 2020.

Meanwhile, In its external sector performance for November 2020, Central Bank said amidst a decline in earnings from exports, a number of positive developments were observed in the external sector, including a lower trade deficit, and a notable increase in workers’ remittances.

CBSL added that merchandise imports continued to decline supported by the continuation of restrictions on non-essential imports and low global oil prices.

The deficit in the trading account narrowed in November 2020 by US dollars 198 million to US dollars 565 million, from US dollars 762 million recorded in November 2019, due to a larger decline in imports compared to the decline in exports.