Sri Lanka rupee weakens to 160.10/20 to the dollar, stocks open lower

ECONOMYNEXT – The Sri Lanka rupee weakened to 160.10/20 rupees against the US dollar in early trading in the spot market Wednesday as stocks opened lower on selling in John Keells Holdings and banking stocks, brokers and dealers said.

The rupee continued to weaken on importer demand with the US dollar trading at 160.10/20 rupees in the spot market, dealers said. The dollar closed Tuesday at 159.95/160.05 rupees.

In equities, the Colombo All Share index fell 0.07 percent in early trading, down 4.15 points to 6,261.58, and the S&P SL20 of more liquid stocks declined 0.39 percent, down 13.69 points to 3,460.04.

John Keells Holdings fell 10 cents to 150 rupees with trades accounting for more than half of market turnover of 95 million rupees in early trading.

NDB Bank was down 7.70 rupees to 125 rupees and Sampath Bank was trading 1.40 rupees lower at 309.90.

Access Engineering fell 10 cents to 15.90 rupees. (COLOMBO, 20 June 2018)

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