August 30, 2018 / 8:45 AM / 3 months ago

Sri Lanka rupee hits fresh low of 161.50 per dollar - dealers

COLOMBO, Aug 30 (Reuters) - The Sri Lankan rupee touched an all-time low of 161.50 per dollar on Thursday due to higher importer dollar demand, dealers said.

The local currency surpassed its previous record low of 161.43 per dollar hit in the previous session.

“The importer dollar demand is continuing with both local and foreign banks on the buying side. The remittances are there, but importer demand is high,” a dealer said, requesting anonymity.

Dealers said there were not much of inflows, while exporters were holding onto dollars on expectation of further depreciation in the local currency.

The rupee has lost 1.2 percent so far this month, and 5.2 percent this year. (Reporting by Shihar Aneez and Ranga Sirilal; Editing by Gopakumar Warrier)

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