The US Dollar selling rate remained largely unchanged at approximately Rs. 339 across major Sri Lankan commercial banks on August 10, with the Rupee showing modest appreciation compared to the previous week.
Sri Lanka's currency demonstrated slight strength against the US Dollar on August 10, with exchange rates remaining relatively stable across the country's commercial banking sector. The dollar selling rate held steady at around Rs. 339 at most institutions, indicating minimal volatility in the foreign exchange market compared to the previous Friday.
Majority of the major banks reported no change in their US Dollar rates. Seylan Bank maintained its buying rate at Rs. 331.25 and selling rate at Rs. 340.50, while NDB Bank kept rates unchanged at Rs. 330.85 and Rs. 339.85 respectively. Commercial Bank of Ceylon similarly held its buying rate steady at Rs. 329.55 and selling rate at Rs. 339.50.
However, some institutions recorded modest downward adjustments. People's Bank reduced both its buying and selling rates by Rs. 0.20, moving from Rs. 331.27 to Rs. 331.07 and from Rs. 339.48 to Rs. 339.28 respectively. Sampath Bank reported slightly larger decreases, with the buying rate falling Rs. 0.25 from Rs. 331.75 to Rs. 331.50, and the selling rate declining Rs. 0.20 from Rs. 339.75 to Rs. 339.50.
The overall stability in exchange rates across the banking system suggests a period of relative equilibrium in Sri Lanka's foreign exchange market, with rate variations among institutions remaining within a narrow band of approximately Rs. 2 between the highest and lowest buying rates.
