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Foreign exodus from CSE continues with Rs3bn sold today
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<blockquote data-quote="monson" data-source="post: 23845558" data-attributes="member: 30005"><p><strong><span style="font-size: 18px">Sri Lankan rupee falls on uncertainty after heavy foreign outflow; stocks down</span></strong></p><p></p><p></p><p>COLOMBO, Nov 5 (Reuters) - ** The Sri Lankan rupee ended weaker on Monday as outflows from stocks and government securities due to political uncertainty raised dollar demand.</p><p></p><p>** Stocks slipped for the second session running, moving further away from their nearly two-month closing high hit last week. Foreign investors sold shares as the political crisis continued after the speaker of parliament said on Monday he would not recognise President Maithripala Sirisena’s sacking of Ranil Wickremesinghe and appointment of Mahinda Rajapaksa as the prime minister.</p><p></p><p>** The rupee ended at 174.45/60 per dollar on Monday, compared with the previous close of 174.30/50. The rupee has dropped 0.8 percent since the political crisis began on Oct. 26.</p><p></p><p>** The rupee hit a record low of 175.65 per dollar on Thursday.</p><p></p><p>More: <a href="https://af.reuters.com/article/commoditiesNews/idAFL4N1XG4IC" target="_blank">https://af.reuters.com/article/commoditiesNews/idAFL4N1XG4IC</a></p></blockquote><p></p>
[QUOTE="monson, post: 23845558, member: 30005"] [B][SIZE="5"]Sri Lankan rupee falls on uncertainty after heavy foreign outflow; stocks down[/SIZE][/B] COLOMBO, Nov 5 (Reuters) - ** The Sri Lankan rupee ended weaker on Monday as outflows from stocks and government securities due to political uncertainty raised dollar demand. ** Stocks slipped for the second session running, moving further away from their nearly two-month closing high hit last week. Foreign investors sold shares as the political crisis continued after the speaker of parliament said on Monday he would not recognise President Maithripala Sirisena’s sacking of Ranil Wickremesinghe and appointment of Mahinda Rajapaksa as the prime minister. ** The rupee ended at 174.45/60 per dollar on Monday, compared with the previous close of 174.30/50. The rupee has dropped 0.8 percent since the political crisis began on Oct. 26. ** The rupee hit a record low of 175.65 per dollar on Thursday. More: [url]https://af.reuters.com/article/commoditiesNews/idAFL4N1XG4IC[/url] [/QUOTE]
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