Sri Lanka Halts Stock Trading, Rupee Extends Drop Amid Protests
People clash with riot police as they demonstrate in Colombo, on March 31.
Photographer: Ishara S. Kodikara/AFP/Getty Images
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Sri Lanka’s stock market halted trading on Friday and the rupee extended its loss after protests against surging living costs and daily power cuts amid dwindling foreign-exchange reserves.
Equities trading was stopped after a 10% slide in the benchmark stock index. The rupee, which has become the world’s worst-performing currency this year, fell 1.5% by 12:55 p.m. in Colombo, taking its loss this year to more than 30%