ECONOMYNEXT \u2013 Sri Lanka\u2019s Central Bank bought a net US$64.2 million in September, official data showed, amid depreciation pressure on the local currency that touched a four-year low in the May this year.<\/p>\n
The rupee fell 0.9 percent in September, the Central Bank has said.<\/p>\n
The Central Bank bought US$85 million from the domestic foreign exchange market in September while selling US$20.8 million that same month, official data showed.<\/p>\n
The Bank sold over US$211 million net in May for the first time in 22 months.<\/p>\n
The Central Bank has net bought US$1,548.8 million in the first nine months of 2026 following a net purchase of US$2 billion last year.<\/p>\n
The rupee was under high downward pressure in May as the imports bill for fuel rose unusually high following the Middle Eastern escalation amid continued demand for dollars to buy new vehicles.<\/p>\n
However, it reversed course and gained in the next two months before falling in September.<\/p>\n
The Central Bank has been buying dollars aggressively from the market to boost foreign currency reserves to meet the targets the country agreed with the IMF under the US$3 billion external fund facility and to repay the island nation\u2019s multilateral and bilateral loans.<\/p>\n
The Central Bank\u2019s aggressive reserve building comes ahead of the repayment of foreign debts to sovereign bond holders in April 2028. (Colombo\/October 03\/2026)<\/p>","protected":false},"excerpt":{"rendered":"
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