SriLanka, May 24 -- The Sri Lankan Rupee (LKR) has surged against the US Dollar (USD), snapping a nine-day losing streak to become Asia's best-performing currency on Friday, Bloomberg reported yesterday.

The LKR strengthened as much as 2.7 percent, its biggest gain since March 2023, reversing losses from Thursday when it slid to a three-year of 342 against the USD.

Friday's strengthening of the LKR may have been due to some market players deciding to sell dollars before upcoming inflows from the International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB), Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando told reporters in Colombo. The IMF will decide on the seventh tranche of its Extended Fun...