Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, Colombo, 22nd May, 2026: The government of Sri Lanka on Friday said the sharp fluctuation in the value of the Sri Lankan rupee against the US dollar was driven by the ongoing conflict in West Asia and was not linked to weaknesses in the country’s economic management.
Deputy Finance Minister Anil Jayantha Fernando said the currency movement reflected external geopolitical pressures rather than domestic economic instability. His remarks came a day after the International Monetary Fund endorsed Sri Lanka’s economic progress and as the government expressed confidence that more than USD 1.2 billion in funding from international lenders would arrive by the end of the month.
According to local media reports, the Sri Lankan rupee closed at 329.00/331.00 against the US dollar in the spot market on Friday, compared with 342.00/350.00 a day earlier.
Sri Lanka has been working to stabilise its economy following the severe financial crisis of 2022, with IMF-backed reforms, debt restructuring, and efforts to restore foreign exchange reserves playing a key role in the recovery process.