"A total of 54 people were arrested from the group of protesters at Pengiriwatta Mawatha in Mirihana, which leads to the President's residence last night," the police media spokesperson said, as quoted by Ada Derana TV network.
According to the police, an assistant superintendent of police and four other officers sustained injuries during the protest and they are currently receiving treatment at the hospital.
Police used tear gas and water cannons on the protesters as they were trying to storm the president's residence in the capital, the news outlet said.
According to the newspaper, the President's Media Division said that many of those arrested were organized extremists.
Photos and videos from the protests have emerged online.
Earlier in the morning, Sri Lankan police lifted the curfew, which had been imposed in the capital late last night following widespread protests.
Sri Lanka is experiencing the worst economic crisis since its independence in 1948. The crisis is caused by foreign exchange shortages resulting from restricted tourist flows due to the coronavirus pandemic, which prevents the country from purchasing enough fuel. The COVID-19 pandemic has hit the island's tourism sector, a key source of foreign exchange, and remittances from Sri Lankans working abroad have also declined.
There is an acute shortage of food and basic necessities, fuel and gas in the country. Many parts of Sri Lanka are facing continuous power outages for up to 13 hours due to the lack of foreign exchange to import fuel.