Rupee depreciates further against USD

18 Mar, 2020

The Sri Lanka Rupee depreciated further against the US Dollar today.

The Central Bank of Sri Lanka (CBSL) said the selling rate of the US Dollar was Rs. 187.23.

The Sri Lankan Rupee depreciated against the US Dollar yesterday as well, with the selling rate of the US Dollar at Rs.185.08.

Meanwhile, the Monetary Board of the CBSL this week decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 25 basis points to 6.25 per cent and 7.25 per cent, respectively.

It also decided to reduce the Statutory Reserve Ratio (SRR) on all rupee deposit liabilities of licensed commercial banks (LCBs) by 1.00 percentage point to 4.00 per cent, with effect from the current reserve maintenance period.?

The Monetary Board of the CBSL arrived at this decision in consideration of the urgent need to support economic activity with the rapid global spread of the COVID-19 pandemic and its possible further spread in Sri Lanka. (Colombo Gazette)

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