The Sri Lankan rupee touched a record closing low on Thursday on strong dollar demand from foreign banks and importers while exporters stayed on the sidelines expecting the rupee to weaken further in line with other emerging market currencies. The spot rupee ended at 158.50/60 per dollar, its lowest close, compared with Wednesday's close of 158.20/30.
The rupee hit an all-time low of 158.50 per dollar on May 16. The currency has declined 0.35 percent so far this month after a 1.5 percent fall in April. It has fallen 3.1 percent so far this year. "Demand was there today from importers and some foreign banks," a currency dealer said.