Dollar breaks official Rs.300 barrier

News

Amidst the evolving crisis in Sri Lanka, the US dollar officially broke the Rs.300 barrier on Tuesday in the local money markets.

The Central Bank announced that its buying rate of the dollar was Rs. 293 while the selling rate was Rs. 303.

Money market traders said banks were willing buy above Rs.303 to secure their supply of dollars while the rate was much higher in the informal market.

On Tuesday, the Central Bank cancelled its customary, monthly monetary review of the economy, a day after Governor Ajith Nivard Cabraal resigned from his position. Former Senior Deputy Governor Nandalal Weerasinghe said he has been appointed to the post and has accepted the position.

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