Rupee sheds gains against dollar

The Sri Lankan Rupee today depreciated to Rs. 195.25 against the US dollar from yesterday’s recovery of Rs. 191.97.

According to the latest exchange rate data released by the Central Bank today, the dollar buying rate was recorded at Rs.190.29 and the indicative rate was Rs.191.97.

The dollar selling rate was recorded at over Rs.200, last week.

According to currency dealers, the appreciation of the rupee since Monday could be short-lived, as it was largely due to State banks selling dollars on behalf of the Central Bank during the last couple of days. 

The US $ 500 million Chinese loan, which Sri Lanka took receipt last week, also believed to have contributed to the appreciation of the rupee.