Sri Lanka's rupee hit a new record low of 124.60 on Wednesday due to importer dollar demand ahead of the April festive season, currency dealers said, after the central bank kept key policy rates unchanged.
"The highest trade was done at 124.60 mainly for imports," a currency dealer said on condition of anonymity. Two other dealers confirmed the move. The rupee on Tuesday closed at 123.30/70.
It has depreciated 8.3 percent since the central bank and refrained from intervening to defend a specific price on Feb. 9.
"The highest trade was done at 124.60 mainly for imports," a currency dealer said on condition of anonymity. Two other dealers confirmed the move. The rupee on Tuesday closed at 123.30/70.
It has depreciated 8.3 percent since the central bank and refrained from intervening to defend a specific price on Feb. 9.
