The Sri Lanka rupee closed flat on Friday as local banks cashed in remittances and foreign banks bought the dollars on offer, traders said. The rupee ended at 100.11 per dollar, unchanged from Thursday's close.
However dealers expected the rupee to hold steady ahead of an initial public offering by the local unit of Telekom Malaysia next week. Dialog Telekom aims to raise around $80 million, and nearly half of the sale is aimed at foreign investors.