Sri Lanka’s rupee hits new low

Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Aug 28, 2013 (LBO) – Sri Lanka’s rupee hit a new low of near 135.00 to the US dollar in the spot next market Wednesday dealers said, while bond yields rose. The rupee opened at 133.20/30 to the US dollar and weakened rapidly, in mid-morning trade in one of the sharpest single day falls seen in recent months.

In bond markets a 5-year bond was quoted at a yield of 11.95/12.00 percent, dealer said.

During mid 2012 Sri Lanka’s rupee fell as much as 134.70 to the US dollars in the spot market, though trading is now conducted in the spot next market, where deals are settled three days later. Update II