Sri Lankan Rupee Hits New Record Low: Selling Rate Recorded At All Time Low Of Rs. 179.04 Against US Dollar

November 21, 2018

The Sri Lankan Rupee hit a new record low against the US Dollar and further depreciated to Rs. 179.04 against the US Dollar. 

The buying rate of the Sri Lankan rupee was recorded at Rs. 175.11. 

The rupee continues its downward trend despite the new government's promises to strengthen the currency and reversing the "flawed" economic policies of the Wickremesinghe government. 

When asked about the continued depreciation of the rupee, Minister of the new government Bandula Gunawardena said there was nothing his government could do to strengthen the currency. 

This came a day after Moody's downgraded Sri Lanka to B2 Stable, plunging the country's economy into a fresh crisis. 

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