For the first time in history, the US dollar rose to 300 rupees today (25).
This price range is from 290 to 300 rupees and one private bank had recorded its selling price of 300 dollars today. Accordingly, the rupee has depreciated by nearly 100 rupees within 17 days of the introduction of the floating exchange rate system.
The Central Bank took steps to keep the dollar afloat on March 7. On that day, the Central Bank of Sri Lanka expected that the dollar, which had previously stood at 202 rupees, would remain at 230 rupees at a flexible rate.
However, the rupee depreciated sharply due to the ongoing dollar supply crisis and many commercial banks are still facing severe dollar shortages, bank sources said.
