Foreign Reserves Fall, Rupee Depreciates Further
Posted 13,June

By Chaveendra Dunuwille

In Local News

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Things seem to be going from bad to worse as Sri Lanka’s continues its downward  spiral depleting its foreign reserves even further. By the end of May the nation’s foreign reserves had decreased from $4.5 billion recorded at the end of April to  $4 billion.  

Sri Lanka overall possess $3530. 7 million in foreign currency positions while  also maintaining a reserve position of $69.1 million in the IMF. The country also  is in possession of $6.5 million special drawing rights, $410.7 million reserves  in gold and other reserve assets worth $1.1 million.  

A 22.08% decrease in rupee terms was shown in outstanding T-bills and T-bonds  that were held by foreigners. The Central Bank Treasury bill currently maintains  a face value of LRK 874.336 million. 

As a result of the current pandemic situation the LKR to US dollar value saw a  further 6.7% depreciation. As of 11.32 am on the 13th of June, 2021 the value of  one US dollar is equivalent to LKR 198.12.