The Sri Lanka rupee continued its appreciating trend despite experiencing some volatility in the latter part of the year. The Sri Lanka rupee recorded a monthly depreciation for the month of December 2024.
However, The Sri Lanka rupee appreciated by 10.7 per cent against the US dollar during the year. Meanwhile, reflecting cross-currency movements, the Sri Lanka rupee appreciated against other major currencies, such as the euro, the pound sterling, the Chinese yuan, the Japanese yen, the Indian rupee, and the Australian dollar during the year. In line with the nominal appreciation of the Sri Lanka rupee during the year up to end November 2024, the real effective exchange rate against the basket of 24 currencies(REER 24) also appreciated. Accordingly, REER 24 index (2017=100) increased from 70.2 at end December 2023 to 75.4 at end November 2024, reflecting a reduction in external competitiveness during the period.
