📉 Lankan Rupee Hits Lowest Since March 2023 as USD Selling Rate Reaches Rs. 354

• Exchange Rate Movements: The Sri Lankan rupee depreciated sharply today (May 21), with the US dollar selling rate breaching the Rs. 350 mark for the first time in over three years to hit Rs. 354.03. The buying rate was recorded at Rs. 342.63, according to the Central Bank of Sri Lanka. • Day-on-Day Comparison: This marks a significant drop from yesterday (May 20), when the buying rate stood at Rs. 332.23 and the selling rate was at Rs. 342.70. • Key Drivers: Market analysts and official data attribute the sudden pressure on the currency to a mix of domestic factors and global economic uncertainty, heavily influenced by the ongoing Middle East conflict.