The Sri Lankan rupee ended firmer for a second straight session on Thursday, further recovering from a record closing low hit earlier this week, as some exporters sold dollars, dealers said. The rupee hit an all-time closing low of 154.60/70 per dollar on Tuesday, hurt by dollar demand from banks and importers. The spot rupee ended at 154.35/45 per dollar on Thursday with compared with Wednesday's close of 154.55/65.
"Today, there was selling (of dollars) by exporters and some banks as the rupee was near a record low," said a currency dealer. Dealers said they expect the currency to be under pressure due to continued importer dollar demand. They expect a 2-3 percent depreciation in the rupee and higher volatility this year on account of debt repayment by the government.