The Central Bank of Sri Lanka (CBSL) has confirmed that the Sri Lanka Rupee depreciated by 1.6% against the US dollar in 2026 year-to-date. As of March 31, the US dollar's buying rate was Rs. 311.76 and the selling rate was Rs. 319.31. This depreciation is primarily attributed to external sector pressures following the commencement of the Middle East conflict in late February 2026. Despite this, the country recorded a significant increase in foreign remittances, totaling US$ 1,480.1 million in the first two months of 2026, marking a 32% rise compared to the same period in 2025. Remittances in February 2026 alone reached US$ 729 million, a 33% increase from February 2025, contributing to a current account surplus in February 2026 and boosting reserves to US$ 7.3 billion by the end of that month.
EconomyHOT2h ago