The chief of Sri Lankan central bank Ajith Nivard Cabraal at a recent meeting with the country's bankers confirmed that the Sri Lankan Rupee is floated.
The recent development of the Sri Lankan currency was corroborated by the financial news site EconomyNext.
"The currency is floated," Cabraal had confirmed to EconomyNext on Wednesday, 9th March.
"Inter Bank forex trade quoted dollar at 240/255 following governor indicated the CEOs of the commercial banks that there is no cap from Central Bank," a reclaimed journalist of the country had tweeted.
Meanwhile, Sri Lankan government-aligned parliamentarian Professor Ranjith Bandara had claimed that the Rs. 230 against US Dollar was just a "guidance" and the rate may move either way in the future.