Sri Lankan rupee hits record low of 182.35 vs dollar

COLOMBO: The Sri Lankan rupee fell to a record low against the dollar on Thursday amid pressure from capital outflows and political uncertainty.

The rupee hit 182.35 to the US dollar, according to market sources, surpassing its Dec. 26 low of 181.85.

The island nation was plunged into crisis in October after President Maithripala Sirisena replaced Prime Minister Ranil Wickremesinghe with former president Mahinda Rajapaksa, without the backing of parliament, leading to protests and downgrades of Sri Lanka's debt.

Wickremesinghe was reinstated as prime minister last week, but uncertainty continues.

The rupee has weakened about 5 percent since the crisis began. It has lost 18.7 percent this year.