Sri Lanka rupee depreciates against USD

17 Mar, 2020

The Central Bank of Sri Lanka (CBSL) announced that the Sri Lankan Rupee depreciated against the US Dollar today.

The CBSL said the selling rate of the US Dollar was Rs.185.08.

Meanwhile, the Monetary Board of the CBSL, yesterday 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, with effect from today.

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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