Sri Lankan rupee ends weaker on importer dollar demand

04 Oct, 2017

The spot rupee ended at 153.30/38 per dollar, compared with Tuesday's close of 153.23/30.

"The two state banks were on the buying side -- may be to cover some oil bills," said a currency dealer who did not wish to be named.

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

The island nation had seen 18 billion rupees ($117.49 million) of net inflows into equities this year as of Tuesday's close, and 29.1 billion rupees worth inflows into government securities as of Sept. 27 this year, official data showed.

Sri Lanka's markets are closed on Thursday for a Buddhist holiday.

 

Copyright Reuters, 2017

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