Sri Lankan Rupee falls to 176.52 against the US dollar

Colombo (News1st): The rupee further depreciated against the US Dollar when the selling price of the US dollar shot up to Rs. 176.25 today (October 31). According to the figures issued by the Central bank, the buying rate of the dollar was at Rs. 172.36. The withdrawal of foreign investments from the Colombo Stock exchange had also significantly affected the depreciation of the rupee. During the past two days alone Rs. 3.1 Billion of foreign investment was withdrawn from the CSE. At the beginning of the year, the selling price of the US dollar stood at Rs. 152.85. The value of the US dollar had increased by Rs. 23 so far this year, showing an increase of 15%.