Sri Lanka rupee falls to new low

Mar 13, 2012 (LBO) - Sri Lanka's rupee was quoted at a new historic low of 123.45/60 against the spot US dollar in late trading Tuesday dealers said.

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The rupee opened around 121.80 to the US dollars.

Analysts had warned that continued liquidity injections in to money markets to sterilize off-market forex interventions will result in a steady weakening of the currency peg.

One month forward premium was around 1.10/20 rupees, the three month around 5.

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00/5.10 and the one year as much as 9.
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35/80 earlier in the day, dealers said.