Sri Lankan rupee edges up

The Sri Lankan rupee ended slightly firmer on Thursday as dollar selling by a private bank surpassed demand for the greenback from importers, dealers said. The two state-run banks through which the central bank directs the market, were not seen selling dollars, but a local private bank sold the US currency, the dealers said. The rupee ended at 140.45/50 per dollar compared with Wednesday's close of 140.55/65.
"The rupee is firmer on bank dollar sales, but it is not clear weather it was due to exporter conversions," said a currency dealer asking not to be named. Some dealers also said dollar demand from importers is reducing ahead of the government's budget in November and some new measures to discourage unnecessary imports.