Sri Lanka Rupee Against USD by end of march 2023

CBSL allowed its middle rate to fall from 361 (28 Feb) to 358, 353 (1 and 2 March) and spread the band from 5.00 to 7.5 and later to 10.00. Yesterday the Dollar buying rate was Rs. 318.30 and selling rate was Rs. 335.75 reflecting an appreciation of the Rupee by 4.8% and 3.5% respectively from last week’s closing.

As per the poll carried out by Charts.lk on Friday it is witnessed that 65% of the public expects USD/LKR to be within 300 to 340.

About 38% of the general public as well as capital market participants expect it to be settled within 300 to 320 by the end of March.

16% believe it will fall below 300 and 19% expect it to bounce back to about 340.

More interestingly a less percentage (5%) of capital market participants expect Rupee will gain beyond Rs. 300.