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Sri Lankan Rupee drops to new low
Oct 04, 201801:23 PM
The Sri Lankan Rupee has further depreciated against the US Dollar as the selling price reached 171.42 - a new record low - on Thursday.
Meanwhile the buying price of the US Dollar is at Rs 167.55, according to the Central Bank of Sri Lanka (CBSL).
The Government announced several temporary measures last week to ease the pressure on the Sri Lankan rupee.
The Central Bank says it has intervened by US$ 184 million on a net basis so far this year to defend the depreciation of the Sri Lankan Rupee.
“So far we’ve had a 9.5% depreciation but on a net basis so far we have only spent US$ 184 million,” CBSL Governor Dr. Indrajit Coomaraswamy told reporters on Tuesday.
