The Sri Lankan rupee closed steady on Friday as thin dollar demand from importers and banks matched the selling of the US currency by exporters and inward remittances, dealers said. A strengthening dollar since mid-April has increased the credit risk of several emerging markets, including Sri Lanka, due to currency depreciation, ratings agency Moody's said on Wednesday.
The rupee ended at 158.20/35 per dollar, compared with Thursday's close of 158.20/40. The spot rupee hit an all-time low of 160.17 per dollar on June 20 and is down 3.1 percent so far this year.
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