Sri Lanka rupee depreciated below 310 to US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 310.00/10 to the US dollar in the spot market Tuesday, weaker from 309.75/85 the previous day, dealers said, while bond yields edged up on the short end and remained steady across the rest of the yield curve. Analysts have warned the central bank not to push the rupee down by over-purchasing dollars above its deflationary policy which will eventually push up energy and food costs, even when US monetary policy is relatively benign. When the central bank buys dollars at 310 to the US the market is signalled to push the rupee down,…

Read the full article →