Sri Lankan rupee hits record low

The Sri Lankan rupee hit a record low on Wednesday, tracking weakness in emerging-market currencies as Turkey's financial woes bruised investor risk appetite, dealers said. Absence of dollar conversions by exporters and remittances also weighed on the market, they added. The rupee fell to an all-time low of 160.30 per dollar, surpassing the previous record of 160.17 hit on June 17. It closed at 160.20/30, compared with Monday's close of 160.10/25, and has declined 4.4 percent so far this year.