Sri Lankan rupee ends down

The Sri Lanka rupee closed weaker on Friday due to increased importer demand for dollars to settle trade bills, dealers said. The rupee closed 0.41 percent stronger at 104.70 against the dollar, compared to Thursday's close of 104.27 rupees. The local currency has depreciated almost 8.0 percent so far this year, largely due to high international oil prices.
The rupee has come under pressure over the last few months from heavy importer demand for dollars to settle trade bills, while exporters have been holding on to their dollar earnings expecting the local currency to weaken.