Jun 07, 2018

Dollar exceeds 160

The rupee has further devalued, with it reaching 160 to a dollar today.

According to the Central Bank Exchange rates the selling rate of an American Dollar is Rs. 160 while the buying rate is Rs. 156.91.

Since the 10th of February LG elections, the rupee has been steadily devaluing, while this is the first instance that the rupee has declined to this level.   

The Central Bank noted that during the period from January 01 to June 01 this year, the rupee has declined by 3.3% against the dollar. During that period, the rupee had declined 2.1% against the Sterling Pound and 1.3% against the Euro.

The rupee declined the most at the end of April and beginning of May, the Central Bank noted in its third monetary policy Analysis on May 11.  

During last year, the rupee had declined by 2.5% and in 2016 by 3.9% the Central Bank noted.

Meanwhile, in today’s Central Bank Exchange Rates the Sterling Pound selling rate is Rs. 216.05 and the Euro is selling at Rs. 189.92.