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Thursday, 02 June 2016 - 10:00
SL rupee forwards edge down on importer dollar demand
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Sri Lankan rupee forwards fell yesterday, due to dollar demand from importers amid fears the currency could weaken further if the government increased spending to deal with the country’s worst natural disaster since 2004.

The government says that the cost of landslides and floods, caused by days of torrential rain, will be between 1.5 billion and 2 billion dollars at the minimum.

Meanwhile, dealers said that the rupee would continue to face pressure despite foreign inflows into government securities and expectations of further inflows, unless the inflows are large enough to boost reserves.

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