Sri Lanka’s rupee depreciated against the US dollar in Wednesday’s spot trading, closing at 337.00/75, dealers reported.
The move marks a continuation of the currency’s recent weakness, following a close of 335.15/40 the previous day and 334.50/75 earlier in the week.
Domestic bond yields remained broadly steady during the session, suggesting that fixed-income markets are not yet pricing in immediate inflationary shocks from the currency slide.
However, the persistent depreciation raises concerns about import costs and external debt servicing for a country still navigating post-crisis economic reforms.
The rupee’s slide reflects ongoing pressure on emerging-market currencies amid global dollar strength and local supply-demand imbalances.
While the central bank has intervened periodically to stabilize the exchange rate, the recent trend indicates limited success in halting the downward momentum.