The US dollar’s selling rate has crossed the Rs. 330 mark in the Central Bank of Sri Lanka’s official daily exchange rates, signalling a renewed weakening of the rupee after a week of recovery.
The CBSL’s indicative buying rate stood at Rs. 320.40 and the selling rate at Rs. 330.81 on Wednesday, May 27, Ada Derana reported. That compares with a buying rate of Rs. 318.32 and a selling rate of Rs. 328.69 in the rates issued on Tuesday — meaning the rupee depreciated by roughly Rs. 2 overnight in official reference terms.
The interbank market told the same story. The rupee closed at 328.50/332.00 to the dollar in spot trading on Wednesday, weaker than 324.00/325.50 the previous day, EconomyNext reported, citing dealers. Telegraphic transfer rates were quoted at 323.50 buying and 332.50 selling.
Bond yields closed higher after the government sold the full Rs. 240 billion of treasury bonds on offer, at average yields of 11.86 percent on the 2030 maturity, 12.32 percent on 2033 and 12.93 percent on 2035.
The move pauses a recovery that had seen the rupee firm toward Rs. 320 levels last week after the Central Bank raised its policy rate by 100 basis points and moved to unwind a distortion in the forex market. Governor Nandalal Weerasinghe this week disclosed that panicked importers had bought forward dollars at up to Rs. 380–400 during the squeeze, while the interbank rate hovered near Rs. 330.
