ශ්‍රී ලංකා රුපියල ආසියානු කලාපයේ වැඩිම අධිප්‍රමාණයට (+3.7%) ලක් වූ මුදල් ඒකකය බවට පත්වෙයි.

Indian rupee, the Malaysian ringgit, the Singaporean dollar, and the Thai baht appreciated by 0.8%, 1.2%, 0.7%, and 1.7%, respectively – far below the LKR – while the Pakistani rupee, the Vietnamese dong, the Japanese yen, and the Bangladeshi taka depreciated by 1.3%, 0.7%, 3%, and 0.4%, respectively.

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Sri Lankan rupee (LKR) strengthened considerably against the US dollar in the quarter ended 31 March, faster than eight major currencies in the Asian region in terms of appreciation.

According to Central Bank of Sri Lanka data, in the first quarter of 2019, the LKR appreciated by 3.7%, indicating positive signs for the economy.

Despite importer dollar demand, greenback inflows from remittance ahead of the Sinhala and Tamil New Year prevented a decline of the rupee. In addition, conversion of dollars by exporters and purchasing of government securities by foreign investors, amidst increased investor confidence following Sri Lanka’s repayment of $ 1 billion sovereign bond in January, has also catalysed the significant appreciation of the rupee.

Research carried out by The Sunday Morning Business on currency movements in regional economies shows that the rate of appreciation of the LKR is well above that of other appreciating currencies in the region. The other currencies taken into account for the purpose of comparison were the Indian rupee, the Bangladeshi taka, the Pakistani rupee from South Asia, and the Japanese Yen, the Singaporean dollar, the Malaysian ringgit, the Thai baht, and the Vietnamese dong from Asia.

During this period, the Indian rupee, the Malaysian ringgit, the Singaporean dollar, and the Thai baht appreciated by 0.8%, 1.2%, 0.7%, and 1.7%, respectively – far below the LKR – while the Pakistani rupee, the Vietnamese dong, the Japanese yen, and the Bangladeshi taka depreciated by 1.3%, 0.7%, 3%, and 0.4%, respectively.