The Sri Lankan rupee fell on Friday, while a slide in financial stocks drove equities lower for a second straight session.

The Sri Lankan rupee was last quoted at 193.50 against the dollar as of 1215 GMT, 1.57% weaker for the day compared with the previous session's close of 190.50, according to Refinitiv data.

Sri Lanka's benchmark stock index ended 1.17% lower at 8,567.07.

The index has hit multiple all-time highs in recent weeks, and is still up 26.5% so far in 2021, among the strongest equity gains this year for emerging markets.

Trading volume on the CSE All Share Index rose to 2.87 billion from 336 million in the previous session.

Microfinance firm LOLC Development Finance and Commercial Bank of Ceylon Plc were the top drags on the benchmark, falling 17.7% and 3.7%, respectively.

Foreign investors were net sellers, offloading 532.1 million Sri Lankan rupees ($2.8 million) worth of shares, according to exchange data.

Equity market turnover was 23.75 billion rupees, exchange data showed.