Sri Lankan rupee weakened against the US dollar on the 16th compared with the previous day. Several commercial banks increased their selling rates, with the dollar reaching up to Rs. 338 in some institutions. Higher import demand and increased market pressure pushed the exchange rates upward across the banking sector.
Market Pressure Drives Currency Volatility.
Banks responded to rising dollar demand from importers and businesses, which created pressure on the local currency. Global dollar strength and domestic foreign exchange demand both contributed to the rupee’s depreciation. Financial analysts expect continued short-term volatility as banks adjust rates based on daily liquidity conditions and market activity. Importers may face higher costs if the trend continues, while banks are likely to revise rates frequently to match market movements.
| Bank | Buying Rate (LKR/USD) | Previous Buying Rate | Change | Selling Rate (LKR/USD) | Previous Selling Rate | Change |
| Seylan Bank | 325.25 | 325.25 | No Change | 337.00 | 337.00 | No Change |
| NDB Bank | 329.00 | 327.00 | ▲ 2.00 | 338.00 | 336.00 | ▲ 2.00 |
| People’s Bank | 327.99 | 326.02 | ▲ 1.97 | 338.31 | 336.28 | ▲ 2.03 |
| Commercial Bank of Ceylon | 327.07 | 323.60 | ▲ 3.47 | 337.00 | 334.50 | ▲ 2.50 |
| Sampath Bank | 328.50 | 327.50 | ▲ 1.00 | 337.50 | 336.50 | ▲ 1.00 |
