The Sri Lanka rupee maintained its appreciating trend, recording a monthly gain for November 2024, consistent with the overall appreciation observed throughout the year.

As of 29 November 2024, the rupee appreciated by 11.3% against the US dollar, while also strengthening against major currencies, including the euro, pound sterling, Chinese yuan, Japanese yen, Indian rupee, and Australian dollar.

In tandem with the nominal appreciation of the rupee, the Real Effective Exchange Rate (REER 24) index, which reflects external competitiveness, rose from 70.2 at the end of December 2023 to 74.5 at the end of October 2024. This increase indicates reduced external competitiveness during the period.