Sri Lanka rupee shows mixed performance versus intl currencies

Sept 30, 2015 (LBO) – Sri Lanka’s rupee has had a mixed performance against international currencies so far this year, the central bank said.

“The Sri Lankan rupee appreciated against the Australian dollar by 9.5 percent and the euro by 0.3 percent while depreciating against the Japanese yen by 6.9 percent, the pound sterling by 4.7 percent and the Indian rupee by 3.0 percent during this period,” a statement from the bank said.

The central bank allowed greater flexibility of the exchange rate from 4th September amid a balance of payments deficit tied to dollar outflows.

The rupee depreciated by 4.6 per cent against the US dollar between 4th September and 29th September. The rupee has depreciated by 7.2 percent against the dollar since the beginning of the year.

The rupee is now competitive against international currencies despite turbulence in international currencies and financial markets, the central bank governor said on Monday.