August 25, 2017 / 11:26 AM / 3 months ago

Sri Lankan rupee ends lower on importer dollar demand

COLOMBO, Aug 25 (Reuters) - The Sri Lankan rupee closed slightly weaker on Friday as importer demand for the U.S. currency surpassed exporter dollar sales, dealers said.

The spot rupee ended at 152.95/153.00 per dollar, compared with Thursday’s close of 152.90/95.

“There was bit of a dollar demand today. We have seen some demand from state banks too. I don’t think its intervention from the central bank and it may be oil demand,” said a currency dealer, requesting anonymity.

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 has seen 28 billion rupees ($183.13 million) of net inflow into equities up to Friday’s close and 5.7 billion rupees worth inflows into government securities up to August 23, official data showed. ($1 = 152.9000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

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