September 21, 2018 / 9:16 AM / 2 months ago

Sri Lanka rupee hits all-time low of 169.00 per dollar - sources

COLOMBO, Sept 21 (Reuters) - The Sri Lankan rupee fell 0.2 percent and hit an all-time low of 169.00 per dollar on Friday, weighed down by higher dollar demand from importers amid reluctant greenback sales by exporters, market sources said.

The local currency hit a record low for an eighth straight session on Friday despite central bank’s intervention.

Earlier in the session, the rupee traded at 168.40 due to the central bank’s direct intervention, sources said. It closed at 168.65/169.00 per dollar on Thursday.

Central bank’s senior Deputy Governor Nandalal Weerasinghe on Friday told Reuters the bank would not tolerate excess volatility in the foreign exchange market and will intervene aggressively to curb excess volatility.

The rupee weakened 4 percent this month, and 9.4 percent so far this year. (Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

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