Sri Lanka rupee hits record low of 171 per dollar

COLOMBO: The Sri Lankan rupee slumped to a fresh low on Tuesday, as a broadly stronger dollar and selling in government securities pressured the local currency further, market sources said.

The currency hit 171.00 per dollar, its fifth straight session of record lows, going below the previous nadir of 170.60 hit on Monday.

It closed at 170.50/80 per dollar on Monday.

The rupee has weakened 1 percent against the dollar so far this month, extending the 4.7 percent loss in September. It has declined 11.3 percent so far this year, Rifinitive Eikon data showed.