The Sri Lankan rupee hit a record low for a fifth straight session on Tuesday on strong dollar demand from importers and foreign banks amid outflows from government securities. The rupee fell to an all-time low of 171.00 per dollar, surpassing the previous low of 170.75 hit on Monday, on importer demand for the greenback and foreign selling in government securities and exporter greenback sales, market sources said.
The rupee ended at 171.00/20 per dollar, compared with the previous close of 170.50/80. The rupee has weakened 1.12 percent so far this month after a 4.7 percent drop in September against the dollar. It has declined 11.41 percent so far this year, recording its sharpest fall since 2001.
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