Rupee’s YTD appreciation against US Dollar tops 10% mark

The Sri Lankan Rupee last week entered the double-digit appreciation level against the US Dollar.

During the year up to 11 October 2024, the Sri Lankan Rupee appreciated against the US Dollar by 10.5%, the Central Bank said on Friday.

The average rate of the US Dollar on Friday last week was Rs. 292.96, a new low and down from Rs. 294 last week, Rs. 323.41 a year ago, and Rs. 322.61 as of 5 January 2024. Last year, the Rupee saw an appreciation of 12.1% against the US Dollar.

The Daily FT last week reported the rise of the Rupee’s strength nearing the 10% mark against the US Dollar aided by a recent spike following the election of Anura Kumara Dissanayake as President. See https://www.ft.lk/top-story/Rise-of-Rupee-s-strength-against-US-nears-10/26-767658#.