Central Bank closely monitoring exchange rate in view of sharp increase

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Governor of the Central Bank of Sri Lanka (CBSL) Ajith Kabraal told the Times Online that CBSL is closely monitoring markets over the last few days to see whether the dollar rate would reach over Rs 300.

He said that since CBSL adopted a flexible exchange rate recently, there is a possibility of the dollar exchange rate increasing up to Rs 300 during the month of April. Governor said he has advised market participants not to overreact due to the current situation but engage in transactions within certain parameters.
Times online learns that even though the exchange rate at local banks remains at Rs 285 the black market exchange rate has already reached Rs 307.

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