The Central Bank of Sri Lanka has reported that the rupee has overvalued by 17.6% against the US dollar in the month of May, and the foreign competitiveness of the rupee is also showing some growth.
Accordingly, it is stated that the rupee has overvalued by 27.7% compared to the Japanese yen, 19.8% compared to the Australian dollar, 14.5% compared to the euro, and 16.5% compared to the Indian rupee.