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Rupee+dips+again
Thursday, 12 April 2012 - 8:39
Rupee dips again
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Sri Lanka's rupee dipped close to 130 to the US dollar yesterday after opening around 127.80 in the spot market, amid buying from foreign banks.

The rupee was quoted as low as 129.50 in late morning trade but gained later with demand falling off.

Sri Lanka raised interest rates by 75 basis points last Thursday but monetary conditions have been loose with excess liquidity in markets coming from debt monetization.

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