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Wednesday, 13 July 2016 - 11:15
Sri Lankan Rupee Falls as Foreign Investors Prefer New Eurobonds
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Dealers have said that the Sri Lankan rupee fell yesterday, on a lack of exporter dollar conversions.

It also fell, as foreign investors cut down on rupee bond buying in favour of a new higher-yielding sovereign debt.

Sri Lanka raised 1.5 billion dollars in its first sale of dual-tranche euro-bonds on Monday, although at a lower borrowing cost than initially expected, as yield-hungry global investors put in 6.6 billion dollars in offers.

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