The Sri Lankan rupee hit a record low for a fifth straight session on Tuesday, as investors dumped currency-denominated assets following a credit rating downgrade and a delay in an IMF loan discussion in the wake of a political crisis. The rupee hit a fresh low of 180.50 per dollar, surpassing its previous low of 180.40 hit on Monday.
The rupee ended at 180.40/90 per dollar on Tuesday, compared with 180.20/40 in the previous session. The decline was limited due to moral suasion by the central bank. It has weakened around 4 percent since the political crisis began on Oct. 26 and more than 17.3 percent so far this year.
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