Reuters - The Sri Lankan rupee slipped to a fresh all-time low of 157.40 per dollar on Wednesday for a third straight session, pressured by persistent importer dollar demand, dealers said.

Two dealers confirmed that the rupee was traded at 157.40 on the dollar - beyond the previous record-low of 157.30 hit on Tuesday.

“Unlike earlier, petroleum importers are buying dollars from the market instead of borrowing from banks. That has put pressure on the rupee,” a currency dealer said.

The rupee has fallen 0.64 percent so far this week and 1.2 percent for the month.