Sri Lanka rupee fall cause for concern; CB Governor

Friday, 28 June 2013 - 12:27

Central Bank Governor Nivard Cabraal said as the rupee fell to one year lows a sharp weakening of the rupee against the US dollar was unnecessary and there was no cause for concern.


The Sri Lanka rupee fell little over one percent against the US dollar yesterday, the sharpest fall since June 2012 according to data compiled by Bloomberg news-wires.


In intra-day trade the rupee was quoted as low as 130.90 to the US dollar in the spot market levels not seen since November 14th, when it was around 130.79.