ECONOMYNEXT – Sri Lanka’s rupee was quoted at 280/295 to the US dollar on Tuesday in mid-morning trade, dealers said as the rupee was allowed fall after ending interventions to strengthen the rupee.
Business was done at 280 to the US dollar on Tuesday, dealers said.
Commercial banks 265/275 a dollar for telegraphic transfers for customers.
Economists have urged the central bank to raise policy rates to support the rupee and slow domestic credit.
Analysts have also urged the central bank to stop surrenders of foreign exchange which amounts to an intervention against the rupee.