Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

CBSL defends its recent guidance to the exchange rate

Exchange RateJun 7, 2022
CBSL defends its recent guidance to the exchange rate
The real effective exchange rate (REER) is the weighted average of a country's currency in relation to an index or basket of other major currencies. As per the REER, the LKR is under a massive undervaluation. CBSL stated that, following the excessive depreciation, inflation accelerated significantly through imported prices. CBSL further says, boundless rate of depreciation of the exchange rate could have led to extremely detrimental impact on overall macroeconomic stability, given the severity of the balance of payment crisis that the country is going through at the moment.

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