December 19, 2017 / 11:47 AM / a year ago

Sri Lankan rupee ends firmer on exporter dollar sales

COLOMBO, Dec 19 (Reuters) - The Sri Lankan rupee closed firmer on Tuesday, as exporter dollar sales offset demand for the U.S. currency by importers, dealers said.

The spot rupee ended at 153.05/15 per dollar, compared with Monday’s close of 153.10/15.

“It was very thin trade. Rupee ended firmer, it’s mainly because import demand is getting thinner day by day. Today, there were some exporter conversions too,” said a currency dealer.

The rupee has lost 2.3 percent so far this year, but currency dealers say dollar demand has slightly waned, lending support to the rupee.

The market has been waiting for more clarity over a foreign exchange management act introduced by the government last month.

Foreign investors have net bought equities worth 18.42 billion rupees ($120.35 million) this year as of Tuesday’s close. They bought government securities worth a net 62.4 billion rupees as of Dec. 13, official data showed. ($1 = 153.0500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Biju Dwarakanath)

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