Sri Lankan rupee steady

The Sri Lankan rupee ended steady on Tuesday, hovering near its record low hit in the previous session, as dollar sales by a private bank offset importer demand for the US currency, dealers said. The dealers said expectations of a further fall in the rupee discouraged exporters from converting their dollar earnings. The rupee ended at 144.25/45 per dollar, nearly unchanged from previous session's record closing low of 144.30/40.
"The importer (dollar) demand was there. However, a private bank started selling dollars at 144.30 and then at 144.25, which prevented the fall," said a currency dealer, requesting not to be named. To instil investor confidence, the central bank said on Monday it would lift all restrictions on nationals, who send money, that's earned in foreign currencies.