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Sri Lanka Gives Exchange Rate Guidance to Banks, Cabraal Says

Sri Lanka has given a guidance to state banks to buy U.S. dollars at 113.50 rupees and sell at 113.90 rupees to depreciate the local currency by 3 percent, central bank Governor Ajith Nivard Cabraal said in a phone interview today in Colombo today.

“People can do their own trading at any place,” he said.

To contact the reporter on this story: Anusha Ondaatjie in Colombo at anushao@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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