The Sri Lankan rupee hit a fresh record low of 158.90 per dollar on Thursday, as importer dollar demand offset the lack of greenback sales by exporters who expect the currency to drop further, dealers said. The spot rupee hit an all-time low of 158.90 per dollar, surpassing its previous low of 158.80 hit in the previous session.
The currency ended at 158.85/10 per dollar, weaker form Wednesday's close of 158.75/90. The currency declined 3.5 percent so far this year. "Nobody is selling dollars. Importer dollar demand was there. The rupee is trading weaker due to low liquidity," a currency dealer said.
"Some banks were looking to buy dollars, but there were no sellers. The currency is under pressure and the central bank is also letting a gradual depreciation."
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