Sri Lanka rupee slips amid foreign fund outflow worries

Sri Lanka’s rupee slipped on
Tuesday amid worries over further foreign fund outflows after
the central bank cut key monetary policy rates. Shares snapped
four straight sessions of falls as investors picked up
beaten-down banking and diversified stocks.
** Foreign investors sold net 12.9 billion rupees worth of
government securities in the week ended Aug. 21, the worst
weekly outflow in eight months, and the year-to-date net foreign
outflow was at 40.9 billion rupees,