September 4, 2018 / 1:03 PM / a year ago

Sri Lanka govt won't intervene in forex market-junior finmin

COLOMBO, Sept 4 (Reuters) - Sri Lanka will leave the level of its rupee currency to market forces to decide and the government will not intervene in the foreign exchange market, junior finance minister Eran Wickremaratne told Reuters on Tuesday.

“We will not intervene,” he said. “We have left it to the market. We will just do the right policy and let it sort itself. Never panic about it.”

The currency fell to an all-time low of 161.97 versus the U.S. dollar on Tuesday, in its 11th straight session of fresh record lows. The rupee, which weakened 1.2 percent last month, has dropped 5.5 percent this year. (Reporting by Shihar Aneez; Editing by Clarence Fernandez)

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