The Sri Lankan rupee has depreciated further against the US dollar, with the selling rate surpassing the Rs. 342 mark for the first time in recent trading.
According to the daily exchange rate report issued by the Central Bank of Sri Lanka (CBSL) on Tuesday, the buying rate also moved lower, signaling broad-based weakness in the local currency.
The move reflects continued selling pressure on the rupee in the interbank market.
This development occurs as the US dollar index climbs to its highest level since May 2025, marking a significant shift in global currency dynamics.
The greenback has strengthened broadly against a basket of major currencies, breaking through key technical resistance levels and extending a rally that has pushed the dollar to multi-year highs.
For Sri Lanka, a stronger dollar increases the cost of imports and servicing foreign debt, adding to inflationary pressures.