Sri Lankan rupee appreciates against USD by over 8 pct so far in 2024

COLOMBO, Aug. 16 (Xinhua) — The Sri Lankan rupee has appreciated 8.1 percent against the U.S. dollar so far this year, D. S. T. Wanaguru, Director at the Central Bank’s International Operations Department, told journalists in Colombo on Friday.
Wanaguru said the appreciation was due to higher foreign currency inflows compared to the outflows. She said the Central Bank has been buying dollars from the market in the last few months and that the market forces decide the exchange rate.
Given these developments, the government is weighing vehicle import relaxations, she said.
The U.S. dollar has been trading at around 300 rupees this week, compared to 320 rupees in January this year. ■