May 15, 2018

Rupee weakens against the dollar

During the recent past until May 11 the Sri Lankan rupee had depreciated by 3.2% against the American Dollar, according to the statement published by the Central Bank Economic Research Department.

This report indicates that in relation to the rupee depreciating against the dollar, the rupee has also depreciated against other foreign currencies. It indicated that with the rupee weakening the American dollar had further strengthened.

The rupee depreciated by 2% against the dollar in 2017. So far this year against the Euro the rupee had depreciated 3%, against the Sterling Pound 3.7%, against the Japanese Yen 6% and against the Canadian Dollar 1.6%.

However, the rupee had appreciated by 0.2% against the Australian dollar and 1.6% against the Indian rupee.

In 2017, the Sri Lankan rupee depreciated by 13.5% against the Euro, 10.5% against the Sterling Pound, 5.1% against the Japanese Yen, 8.6% against the Canadian Dollar, 9% against the Australian Dollar and 7.5% against the Indian Rupee.