Sri Lankan rupee stays low as outflows continue
The Sri Lankan rupee closed at an all-time low of 161.30 per dollar on Tuesday, continuing its weak run as outflows from equities continued, reports Reuters.
The rupee declined 1 percent so far this month and 5.1 percent so far this year.
The absence of dollar conversions by exporters and outflows from equities also pushed the rupee lower, economic analysts were quoted by Reuters as saying, with the issue further exacerbated by exporters keeping hold of dollars as they expect the rupee to decline even further.
