1 Dollar in Sri Lankan Rupees Today: BOC Black Market Rate
The Sri Lankan Rupee (LKR) is the official currency of Sri Lanka, and its exchange rate with the US Dollar (USD) is constantly fluctuating. In this article, we will provide you with the current exchange rate of 1 USD in LKR, including the black market rate offered by the Bank of Ceylon (BOC).
Official Exchange Rate
As of today, the official exchange rate of 1 USD in LKR is:
- 1 USD = 184.35 LKR (Buying Rate)
- 1 USD = 185.35 LKR (Selling Rate)
Source: Central Bank of Sri Lanka
BOC Black Market Rate
However, the black market rate offered by the Bank of Ceylon (BOC) may differ from the official rate. As of today, the BOC black market rate for 1 USD in LKR is:
- 1 USD = 190.00 LKR (Buying Rate)
- 1 USD = 192.00 LKR (Selling Rate)
Please note that black market rates are not officially recognized and may vary depending on the location and the agent.
Why is the Black Market Rate Higher?
The black market rate is often higher than the official rate due to various factors, including:
- Demand and Supply: Higher demand for USD and limited supply of LKR can drive up the black market rate.
- Inflation: High inflation rates in Sri Lanka can lead to a decrease in the value of LKR, making the black market rate more attractive.
- Economic Conditions: Political and economic instability can lead to a decrease in investor confidence, causing the black market rate to rise.
Conclusion
It's essential to note that while the black market rate may seem attractive, it's not officially recognized and may involve risks. We recommend using authorized exchange dealers or banks for your currency exchange transactions to ensure safety and security.
Remember to always check the latest exchange rates before making any transactions, as rates can fluctuate rapidly.
