Facebook icon
Twitter icon
e-mail icon

Foreign outflows leave Sri Lanka's rupee at all time low

Following weeks of political turmoil, foreign outflows remained high, resulting in Sri Lanka's rupee falling to an all time low on Wednesday. 

The Rupee fell to 181.85 to the dollar during early trade, Reuters reported

The fall comes despite the reappointment of Ranil Wickremesinghe this month as Sri Lanka’s prime minister, after almost two months of political turmoil which saw the dissolution of parliament, widespread reports of bribery and parliamentary violence.

The crisis resulted in a declining rupee, downgrading of the country's sovereign by credit agencies and a suspension of international funds.