📉 LKR Depreciates: Dollar Selling Rate Crosses Rs. 324

The Sri Lankan Rupee continued its downward trend against the US Dollar today (May 06), hitting its lowest levels in over two years as market pressure mounts on the local currency. • Exchange Rate Movements: The selling rate rose to Rs. 324.03, marking the first time it has exceeded the Rs. 324 threshold since January 2024. The buying rate stood at Rs. 316.40, maintaining its position above the Rs. 316 mark reached earlier this week. • Market Benchmarks: The SPOT exchange rate was recorded at Rs. 319.78 today, reflecting ongoing volatility after peaking at Rs. 319.93 on Monday. • Year-to-Date Performance: According to the Central Bank of Sri Lanka, the rupee has depreciated by 2.9% against the US Dollar as of April 30, 2026. • Economic Context: This shift impacts key sectors such as import-reliant manufacturing and energy, potentially increasing the cost of raw materials. Conversely, it may provide a marginal competitive edge for apparel & textiles and tea exports in terms of rupee-denominated earnings.