Rupee slumps to new low

The Rupee slumped to a new low yesterday as the US Dollar exchange rate touched a record Rs. 202.

The Telegraphic Transfer selling rate of the US Dollar yesterday was Rs. 202.04 according to the Central Bank. The previous high of Rs. 201.75 was on 17 March.

The buying rate yesterday was Rs. 197.62.

Wealth Trust Securities said in the Forex market, the USD/LKR rate on the more active one-week forward contracts were seen closing the day at levels of Rs. 199.75/201 against its previous day’s closing level of Rs. 199.50/200.50.