Sri Lanka rupee hovers near 8-month low on banks' dollar-buying

Tuesday, 02 July 2013 - 20:41




The Sri Lankan rupee extended falls from last week to trade near eight-month lows, with banks buying dollars to meet demand from importers and foreign bond holders.

The currency was quoted 130.70 per dollar, a level last seen on November 9th, 2012.

It fell 1.24 per cent last week and 3.12 per cent in June, mainly as foreign investors pulled out of Sri Lankan treasury bonds due to a rise in U.S. treasury yields after the Federal Reserve's plan to trim its stimulus programme.