Posted by Allison on 21 September 2010, 17:05
Sri Lanka is a country that draws many travellers to it every year. If you decide to visit this country it will be worth finding out how many of its rupees the pound can be exchanged for. So let’s see how the pound did against the currency during August this year.
The opening rate was 175.969 and by the end of the first day of trading in August that had improved to 178.004. Did this bode well for the rest of the month or were we being lulled into a false sense of security?
The former seemed to be the case initially. Just two days later we were claiming a rate of 180.899 on the currency converter instead. However we should never get complacent as we found out here – just twenty four hours later the rate had dropped back to 178.563 again. The week ended just after that on 178.284 as well.
So where would we be heading to next? Would we do better than this or would we end up dropping down as we have against several other currencies?
The following week started well as the first day closed on 179.181 for the pound. However this did little to prepare us for the drop to 176.695 against the Sri Lankan rupee the next day, and it put us on edge and made us wonder whether we were now on the way down again.
A couple more days passed and the pound could only now muster up a rate of 174.990 against the Sri Lankan currency. The week closed with the pound in slightly better shape on 175.059, but there was still a lot of work to do if it was going to end the entire month on a good note.
The highlight of the following week was an exchange rate of 175.873 so this at least made us feel a little more confident. However since the week closed on a lower 174.223 figure, it was not enough to make us feel as though the month as a whole was going our way.
We were down to the last few days of the month now and there was every reason to believe that nothing amazing was going to happen. We might manage to improve our position slightly against the Sri Lankan rupee but it wouldn’t be anything amazing.
The last full week finished on 174.574 but the slight improvement was not enough to give us real confidence in what we could achieve. There was a small sliver of hope on the 30th when the pound closed for the day on 175.248, but this did not carry through to the final day of trading.
This was the day when the final rate for the month was revealed as 173.288. Clearly the Sri Lankan rupee was doing better than the pound was at the moment, and any holiday to this region at present will not give the best exchange rate. Fingers crossed it gets better.