Sri Lankan Rupee falls past Rs. 300 against US Dollar for first time since September 2024!

On October 28, 2025
- 4:49 pm

The Sri Lankan Rupee has depreciated further against the US Dollar today (28), crossing the Rs 300 mark for the first time since September 2024, according to the latest data from the Central Bank of Sri Lanka (CBSL).

The CBSL reported the buying rate of the US Dollar at Rs. 300.48 and the selling rate at Rs. 308.00, marking a renewed weakening of the local currency after months of gradual depreciation.

In 2024, the Rupee showed signs of recovery, beginning the year at Rs. 319.23 and strengthening to Rs. 285.94 by December, its strongest level in over a year. However, the trend reversed in 2025, with the currency slipping from Rs. 289.08 in January to Rs. 295.91 in July, before hitting the Rs. 300 mark again this month.

The Rupee last traded at Rs. 300.18 on September 23, 2024, before appreciating in the final quarter of that year. Economists attribute the current slide to continued foreign exchange pressures, import demand, and external debt servicing obligations.

The currency has also weakened against a basket of major and Gulf currencies, according to CBSL data.