Sri Lanka Rupee Steady – Central Bank
Thursday, 01 August 2024 - 7:06 pm
The Sri Lanka rupee remained broadly stable during July 2024 despite some intermittent volatility.
The Sri Lanka rupee appreciated by 7.1 per cent against the US dollar during the year up to 31 July 2024. Meanwhile, reflecting cross-currency movements, the Sri Lanka rupee appreciated against other major currencies, such as the euro, the pound sterling, the Chinese yuan, the Japanese yen, the Indian rupee, and the Australian dollar during the year up to 31 July 2024.
In line with the nominal appreciation of the Sri Lanka Rupee during the year up to June 2024, the real effective exchange rate against the basket of 24 currencies (REER 24) has also appreciated. Accordingly, REER 24 index increased from 70.2 at end December 2023 to 75.2 at end June 2024, reflecting a reduction in exte al competitiveness during the period.
