The Sri Lankan Rupee maintained its appreciation against the US Dollar over the past two days, with commercial banks reporting largely stable exchange rates around Rs. 332 for selling prices.
The Sri Lankan Rupee continued its strengthening trend against the US Dollar, with exchange rates remaining relatively stable across major commercial banks in Sri Lanka on August 31 and September 1. The US Dollar selling rate held steady at approximately Rs. 332, reflecting modest gains for the local currency compared to the previous week.
On August 31, most commercial banks reported slight improvements in the rupee's value. According to the Central Bank of Sri Lanka, the buying rate decreased from Rs. 323.51 to Rs. 323.42, while the selling rate dropped from Rs. 332.66 to Rs. 332.48. Individual banks showed varied movements, with NDB Bank, People's Bank, and Commercial Bank each recording small decreases in both buying and selling rates, while Seylan Bank and Sampath Bank maintained unchanged rates.
By September 1, exchange rates stabilized further, with most banks holding their positions compared to Monday. Seylan Bank, NDB Bank, Commercial Bank, and Sampath Bank all maintained unchanged rates, while People's Bank recorded a marginal increase of Rs. 0.10 in both buying and selling rates. The Central Bank noted that while the rupee showed appreciation against the US Dollar, it experienced only slight movements against a basket of other currencies, including Gulf currencies.