📈 LKR Rebounds as US Dollar Selling Rate Eases Below Rs. 340

The Sri Lankan Rupee (LKR) showed significant volatility but managed to regain strength today (22), with the US Dollar (USD) selling rate dropping below the Rs. 340 mark at several commercial banks after a recent sharp surge. • Overall Movement: The recovery comes a day after the USD reached a peak of Rs. 354 yesterday (21), which had marked a steep Rs. 12 increase within a single day. • Commercial Bank Rates: Selling rates varied across major financial institutions this afternoon: • Nations Trust Bank: Rs. 336.49 • Bank of Ceylon: Rs. 336.50 • People’s Bank: Rs. 338.86 • Hatton National Bank: Rs. 340.00 • Sampath Bank: Rs. 340.50 • Commercial Bank: Rs. 342.50 • Economic Context: This stabilization offers temporary relief for macroeconomic stability, impacting import costs and inflation dynamics after a period of rapid, short-term currency depreciation.