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Lanka rupee at record low; Indian currency hits 20.96 versus dirham

Waheed Abbas/Dubai
Filed on April 1, 2020 | Last updated on April 1, 2020 at 10.12 pm
The Sri Lankan rupee lost 4.2 per cent in the past one month and 8.6 per cent in the last one year.

(Reuters)

Losses mount amid announcement of highest number of new Covid-19 cases in a day

The Sri Lankan rupee hit a record low against the UAE dirham and the US dollar on Wednesday after the South Asian country announced the highest new coronavirus cases in a day on Tuesday.

The currency slipped to 51.6 against the dirham and 189.37 versus the greenback. It has been consistently losing over the last few quarters; it lost 4.2 per cent in the past one month and 8.6 per cent in the last one year, according to data from xe.com.

The number of novel coronavirus cases in the nation jumped 21 to 143 on Tuesday.

That was the highest single-day surge so far, according to Sri Lanka's Ministry of Health.

With 173 more people under observation, officials warned that the next two weeks will be critical in terms of new coronavirus cases.

Colombo, like other governments around the world, has imposed restrictions on travelling within and abroad to contain spread of Covid-19.

Among other regional currencies, the Indian rupee slumped 2.2 per cent to 20.96 versus the dirham or 76.94 against greenback, just shy off its previous all-time low of 20.97, which was recorded last week.

After hitting an all-time low of 45.82 on March 29, the Pakistani rupee has been staying steady for the past three days. On Wednesday, it was trading at 45.23 versus the dirham and 165.99 against the greenback.

- waheedabbas@khaleejtimes.com


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