April 25, 2018 / 7:46 AM / a month ago

Sri Lanka rupee hits record low of 157.40 per dlr - dealers

COLOMBO, April 25 (Reuters) - The Sri Lankan rupee slipped to a fresh all-time low of 157.40 per dollar on Wednesday for a third straight session, pressured by persistent importer dollar demand, dealers said.

Two dealers confirmed that the rupee was traded at 157.40 on the dollar - beyond the previous record-low of 157.30 hit on Tuesday.

“Unlike earlier, petroleum importers are buying dollars from the market instead of borrowing from banks. That has put pressure on the rupee,” a currency dealer said.

The rupee has fallen 0.64 percent so far this week and 1.2 percent for the month. (Reporting by Shihar Aneez Editing by Shri Navaratnam)

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