Sri Lankan rupee hits record low

The Sri Lankan rupee hit a fresh record low of 159.00 per dollar on Friday, as importer dollar demand outpaced greenback sales by exporters who held back from selling the US currency expecting a further decline in the rupee, dealers said. The spot rupee hit an all-time low of 159.00 per dollar, surpassing its previous low of 158.90 hit on Thursday.
The currency ended at 159.00/10 per dollar, weaker form Thursday's close of 158.85/10. The currency declined 3.7 percent so far this year. "The demand was there today and there was not much of dollar selling. We saw some inward remittances, but the demand was heavy," a currency dealer said.