SL Rupee reaches record lows - 'reluctance' over political uncertainty

COLOMBO (News1st) : After a brief recovery on Friday, from record lows, experienced at the start of last week, the Sri Lankan rupee edged down again yesterday, on importer dollar demand. The political uncertainty continued to weigh on investor sentiment,  according to Reuters reports. The rupee ended at 155.40 per dollar, compared with Friday's close of 155.10. The rupee hit a record low of 155.90 on February 14. A dealer said, "Exporters were reluctant to sell due to political uncertainty".  The local currency has weakened by 1.3% so far this year, by 2.5% last year and 3.9% in 2016.