Sri Lankan rupee ends steady in dull trade; importer dlr demand weighs

11 Sep, 2017

The spot rupee which trade between the 152.75-152.87 during the day ended at 152.80/90 per dollar, compared with Friday's close of 152.80/85.

"Strangely, it was a dull day. But we have seen some importer dollar demand though the rupee ended steady with some exporter dollar sales," said a currency dealer, requesting anonymity.

The rupee has been under pressure since January after the central bank stopped defending the currency and started buying dollars to build up the country's depleted foreign currency reserves.

The island nation had seen 27.8 billion rupees ($182.00 million) of net inflows into equities up to Monday's close, and 6.6 billion rupees worth inflows into government securities as of Sept. 6, official data showed.

Copyright Reuters, 2017

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