US dollar selling rate hits Rs.200

Sri Lankan rupee today depreciated to new lows against the US dollar with the current selling price hitting Rs.200.06 a dollar, according to the Central Bank data.

The indicative rate is Rs.196.70 and the buying rate is Rs.195.2.

The government and the Central Bank have taken a slew of measures to strengthen the currency, including mandatory export proceeds conversions, worker remittance sales to the Central Bank etc.

The government maintains that the rupee should be around R.185 against the US dollar given the current macroeconomic improvements achieved through the alternative economic policy followed by the country.