Sri Lanka’s rupee closed at its lowest level in over seven months

Colombo (News 1st): Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session. The rupee ended weaker at 180.80/181.00 per dollar, its lowest since Jan 28. It closed at 180.75/90 on Thursday. However, the currency is up 1% this year. Central Bank data showed foreign investors sold government securities worth Rs 25.2 billion in the two weeks ended on Aug 28, extending the net foreign outflow to Rs 53.2 billion through Aug 28.