Sri Lanka Stocks Rise on Budget Proposals, Rupee Devaluation

Sri Lanka’s benchmark stock index rose after the government said in its 2012 budget yesterday that it will devalue its rupee and cut taxes to support exports and spur economic growth.

The Colombo All-Share Index advanced 0.2 percent to 6,131.26 at 9:37 a.m. in Colombo.

To contact the reporter on this story: Anusha Ondaatjie in Colombo at anushao@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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