The Sri Lankan rupee ended firmer on Wednesday, helped by exporter dollar sales and inward remittances but importer demand for the greenback from a state bank weighed on the sentiment, dealers said. Rupee forwards were active, with two-week forwards ending at 152.55/65 per dollar, compared with Tuesday's close of 152.70/80.
"There was some selling by a foreign bank. We have seen some inward remittances ahead of the festive season and seasonal (importer) demand has largely covered. Besides, state bank's demand for dollar was also there," said a currency dealer, requesting anonymity.The rupee has been under pressure due to dollar demand to meet increased seasonal imports ahead of the traditional new year in April, dealers said.
Copyright Reuters, 2017
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