Ru­pee plunges to record low on im­porter dol­lar de­mand

Daily Mirror (Sri Lanka) - - LIFE -

(Colombo) REUTERS: The Sri Lankan ru­pee touched a fresh low yes­ter­day on dol­lar de­mand from im­porters, just days af­ter it slipped to a record low, but a late bout of sell­ing of the U.S. cur­rency by ex­porters helped cut losses, deal­ers said.

The spot ru­pee hit an all-time low of 160.00 per dol­lar, breach­ing its pre­vi­ous record low of 159.80 hit on Monday.

The ru­pee, how­ever, ended the day at 159.70/90 per dol­lar, lower than Wednesday’s close of 159.50/70. The cur­rency has de­clined 4 per­cent this year.

“The dol­lar de­mand was there in the morn­ing and af­ter the dol­lar hit 160. We saw some small time ex­porters com­ing into mar­ket,” a cur­rency dealer said.

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