September 12, 2017 / 11:36 AM / 10 months ago

Sri Lankan rupee closes flat after dull trade

COLOMBO, Sept 12 (Reuters) - The Sri Lankan rupee ended steady on Tuesday as selling of the U.S. dollar by exporters offset demand for the greenback from importers in a dull day of trade, dealers said.

The spot rupee traded between 152.83 and 152.88 during the day before ending flat at 152.80/90 per dollar.

“The market traded in a narrow range on very thin volumes,” said a currency dealer, requesting anonymity.

“There was some import demand, but it was met by exporter sales.”

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

The island nation had seen 27.7 billion rupees ($181.28 million) of net inflows into equities up to Tuesday’s close, and 6.6 billion rupees worth inflows into government securities as of Sept. 6, official data showed. ($1 = 152.8000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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