The Sri Lankan rupee had depreciated by 3.2% against the US Dollar during the year 2018 so far up to 11th May 2018, the latest update on External Sector by Central Bank of Sri Lanka (CBSL) showed. Furthermore, reflecting cross currency movements, the rupee had also depreciated against other major currencies except for the Australian Dollar and the Indian Rupee during this period.

“The weakening of the rupee partly reflects a broad based strengthening of the US dollar globally” CBSL said in its review on the External Sector performance. Recent data from the latest Bond Offering Document presented to international investors by the Government of Sri Lanka showed that the Sri Lankan Rupee had depreciated by over 16% against US Dollar from January 2015 to date.