Sri Lanka rupee which holds the ground for this year is showing mounting pressure. Foreign outflow from Bonds and stocks from Sri Lanka capital market, seasonal worker remittances slipping.. The Indian rupee fell to as much as 74.34 per dollar to near its record low of 74.48 today. Most Asian currencies weakened on Thursday, as expectations rose for rate cuts by central banks in the region after world health officials called the coronavirus outbreak a pandemic. Some analysts have questioned the effectiveness of these rate cuts, saying they "may provide temporary relief in the credit markets, but will not solve the underlying issue of the rapidly spreading virus around the world", CMC Markets Singapore analyst Margaret Yang Yan said.
Sri Lanka Rupee fell from 182.00 to 183.00 while Indian Rupee crashes to near record low against the US dollar
Global IndexesMar 12, 2020