Sri Lankan rupee weaker on importer dollar demand
COLOMBO, Oct 14 (Reuters) – The Sri Lankan rupee was trading weaker on Wednesday due to importer dollar demand and weak exporter dollar sales, dealers said.
The rupee was at 140.65/75 per dollar at 0527 GMT, compared with Tuesday’s close of 140.55/60.
"The demand (for dollar) is building up slowly. We have seen this week again the demand is picking up, maybe the seasonal import demand," 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’s main stock index was 0.07 percent, or 4.93 points, firmer at 7,083.38 at 0536 GMT. Turnover was 268.9 million rupees ($1.92 million).