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Sri Lanka rupee peg weakens slightly

Nov 18, 2011 (LBO) - Sri Lanka's currency weakened to 20 cents to 110.
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40 rupees to the US dollar in the spot market Friday, with market quotes at 110.35/40 rupees dealers said. The central bank has been intervening steadily in forex markets.
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The rupee had come under some pressure over the past few months with high domestic credit growth.

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In the past few months interest rates have edged up which analysts say will help reduce pressure on the exchange rate and re-balance demand.

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