Sri Lankan rupee edges down

The Sri Lankan rupee ended marginally weaker on Tuesday as demand for the US dollar from foreign banks surpassed mild inward remittances, traders said. The rupee ended at 159.75/85 per dollar, compared with Monday's close of 159.70/80. It hit a record low of 160.17 on June 20 and has declined 4.1 percent so far this year.
"Today, some foreign banks were on the buying side. There was not much of remittances today," said a currency dealer, asking not to be named. "The currency is under pressure, like its regional peers, but the central bank would not like to see the rupee trading above 160.00 per dollar."
On Friday, the central bank left its key policy rates unchanged saying the decision backed its goals for stabilising inflation and fostering sustainable economic growth.