The Sri Lankan rupee fell on Thursday on importer dollar demand, while exporters stayed on the sidelines on expectation the currency would weaken further in line with other emerging markets. A possible slump in the country's top agriculture export, tea, due to heavy rains also weighed on the market.
The spot rupee ended at 158.15/20 per dollar, compared with Wednesday's close of 157.90/158.
"There was usual demand (for dollars) from importers of oil, steel and gas. But exporters stayed away from the market with little conversions. We also expect lack of dollar inflows from tea exports after the recent rains," a currency dealer said.
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