The Sri Lankan rupee closed weaker on Tuesday with banks buying dollars as investors continued to sell rupee-denominated assets on credit rating downgrades by rating agencies and a delayed IMF loan discussion in the wake of a political crisis.
The rupee ended at 179.00/20 per dollar on Tuesday, compared with 178.70/90 in the previous session. It has weakened about 3.3 percent since the political crisis began. The currency fell 1.8 percent in November and 16.6 percent so far this year. The rupee hit a record low of 180.85 per dollar on Nov. 28, surpassing its previous low of 180.50 hit the previous day.
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