COLOMBO, May 17 (Xinhua) -- The Sri Lankan rupee opened stronger to the U.S. dollar on Wednesday, according to data from the Central Bank of Sri Lanka.
The rupee was buying at 302.42 and selling at 316.18 against the U.S. dollar, with the middle rate being 310.4 rupees.
Sri Lankan rupees depreciated dramatically from 202 per dollar in March 2022 to around 360 after the government allowed the rupee to float.
The rupee, however, has been appreciating slowly in the last few months.
Sri Lanka's Central Bank recently announced that the Sri Lankan economy has stabilized and the interest rates will be reduced by the last quarter of the year. ■