Sri Lankan rupee falls on importer dollar demand
COLOMBO, Oct 15 (Reuters) – The Sri Lankan rupee ended weaker on Thursday due to importer dollar demand, though selling of the greenback by banks capped the decline, dealers said.
The rupee ended at 141.00/05 per dollar, compared with Wednesday’s close of 140.85/90.
"There was import demand, two state banks were also buying dollars probably to cover oil bills, but bank selling prevented the fall," said a currency dealer who asked not to be named.
The rupee hit a record low of 141.40 per dollar on Sept. 28, but recovered slightly after a state-run bank sold dollars.
Dealers said importer dollar demand has fallen following government measures to discourage vehicle imports but the seasonal imports are expected to pick up.
Sri Lanka raised $330 million from the sale of dollar-denominated development bonds on Thursday, the central bank said. (Colombo/Oct15/2015)