Rupee falls to record low

Tuesday, 24 April 2018 - 16:36

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Forex dealers said that the depreciation of Sri Lankan rupee reached a historic low against the US dollar today (Apr. 24).
 
When contacted a dealer said the spot rate crossed the 157 rupee level against the US dollar.
 
The dollar was traded at around 157.20 to 157.30 level this afternoon, the dealer said.
 
He added that the imports have risen, pushing the demand for dollars up.
 
The exporters are meanwhile keeping the dollars with them until dollar rate increases further.
 
The dealer also said that the Central Bank had printed money during the pre-avurudu season to meet the demand for cash.
 
It had also contributed to this trend, he added.