The Sri Lankan rupee hit an all-time low for a second straight session on Friday due to importer dollar demand, but ended steady as exporters sold the US currency in late trade, dealers said. The rupee fell to a low of 156.20 per dollar in intraday trade, before recovering to close at 156.05/13, little changed from Thursday's close of 156.05/15.
"Importer demand was there today from oil and gas importers. But we saw some exporters and remittance flow when the currency traded above 156 levels," said a currency dealer. The rupee has weakened 1.66 percent so far this year after declining 2.5 percent last year and 3.9 percent in 2016.
It is expected to be under pressure from continued importer demand for dollars ahead of the traditional New Year in April, dealers said.
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