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.
Sri Lanka’s Central Bank reported that foreign investors have sold government securities worth a net 7.5 billion rupees (£36 million) in the week ended August 21 alone, with a total outflow of 47.4 billion rupees this year.
See more from Reuters here.