Sri Lanka Rupee Appreciates After Continuous Downward Trend: Bloomberg Data Shows Appreciation By 2.38%

February 01, 2019

Sri Lankan rupee is currently appreciating following a continuous downward trend that lasted for several months, economic data shows. 

Bloomberg showed that Sri Lanka Rupee (LKR) appreciated by 2.38% to the USD in January 2019; from 182.90 to 178.30 to the USD. 

Meanwhile, the Central Bank data showed that the Sri Lankan rupee has appreciated 1.88% in January to 181.28 rupees. 

Non-Cabinet minister for Economic Affairs Harsha de Silva, commenting on the trend, questioned as to why the media is silent about the appreciation of the country's currency. 

He said several news stations continuously sent new updates about the currency depreciation when the rupee was going through a bad patch. 

"It's true that the Rupee has regained its value. But we have a lot more to do to get back to pre 26 October levels and try to reverse the downgrading by all three rating agencies," another UNP spokesman said.