The Sri Lankan rupee ended slightly firmer on Friday as foreign investors sold dollars to buy local shares, expecting better profits on hopes that the latest rate hike would help improve the island nation's macro-economic outlook, dealers said. The spot rupee ended at 145.55/65 per dollar, compared with Thursday's close of 145.60/68, a dealer said. "The importer demand was low and we have seen some foreign selling to buy stocks," said a currency dealer, asking not to be named.
The spot rupee is usually managed by the central bank, and market participants use the forward market levels for guidance on the currency. One-week rupee forwards ended little changed at 145.80/90 per dollar, compared with Thursday's close of 145.80/88.