Sri Lankan rupee hits record low of 157.40 per dollar

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Sri Lankan rupee hits record low of 157.40 per dollar

Colombo - The rupee has fallen 0.64 per cent so far this week and 1.2 per cent for the month.

By Reuters

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Published: Wed 25 Apr 2018, 1:00 PM

Last updated: Wed 25 Apr 2018, 3:05 PM

The Sri Lankan rupee slipped to a fresh all-time low of 157.40 per dollar (42.56 against dirham) on Wednesday for a third straight session, pressured by persistent importer dollar demand, dealers said.
Two dealers confirmed that the rupee was traded at 157.40 on the dollar - beyond the previous record-low of 157.30 hit on Tuesday.

"Unlike earlier, petroleum importers are buying dollars from the market instead of borrowing from banks. That has put pressure on the rupee," a currency dealer said.
The rupee has fallen 0.64 per cent so far this week and 1.2 per cent for the month.


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