The Sri Lankan rupee fell 0.2 percent and hit an all- time low of 170.00 per dollar today, weighed down by higher dollar demand from importers amid reluctant greenback sales by exporters.
The local currency hit a record low for an eighth straight session despite central bank’s intervention.
Earlier in the session, the rupee traded at 168.40 due to the central bank’s direct intervention, sources said. It closed at 168.65/169.00 per dollar yesterday. Central bank’s senior Deputy Governor Nandalal Weerasinghe told Reuters the bank would not tolerate excess volatility in the foreign exchange market and will intervene aggressively to curb excess volatility.
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The rupee weakened 4 percent this month, and 9.4 percent so far this year.
