The Sri Lankan Rupee has appreciated against the US Dollar, with commercial banks reporting lower dollar selling rates on Monday. The currency movement reflects continued strength for the local unit.
The Sri Lankan Rupee strengthened further against the US Dollar on Monday, with major commercial banks reducing their dollar rates compared to the previous week. According to market data, the US Dollar selling rate has dropped to Rs. 336 at some institutions, indicating sustained appreciation of the local currency.
Across the banking sector, rates showed mixed movement. Seylan Bank maintained its buying rate at Rs. 328.85 and selling rate at Rs. 338.10 with no changes. However, other major banks reported declines in both buying and selling rates. NDB Bank decreased its buying rate from Rs. 329.00 to Rs. 328.35 and its selling rate from Rs. 338.00 to Rs. 337.35. People's Bank saw its buying rate fall from Rs. 329.54 to Rs. 328.55 and its selling rate drop from Rs. 337.71 to Rs. 336.70.
Commercial Bank of Ceylon and Sampath Bank also reported lower rates. Commercial Bank's buying rate declined from Rs. 327.07 to Rs. 326.82, while its selling rate fell from Rs. 337.00 to Rs. 336.75. At Sampath Bank, the buying rate decreased from Rs. 329.50 to Rs. 328.75, with the selling rate reducing from Rs. 337.50 to Rs. 336.75. The majority of banks showed decreases ranging from 0.25 to 1.01 rupees across their respective rates, signaling consistent rupee appreciation in the interbank market.
