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Sri Lankan rupee gains as exporters sell dollars
September 21, 2017 / 11:34 AM / 3 months ago

Sri Lankan rupee gains as exporters sell dollars

COLOMBO, Sept 21 (Reuters) - The Sri Lankan rupee ended firmer on Thursday as dollar selling by exporters surpassed mild demand for the greenback from importers, dealers said.

The spot rupee ended at 152.65/75 per dollar, compared with Wednesday’s close of 152.70/85.

“There was some exporter (dollar) selling and importer demand was not there,” 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 saw 17.7 billion rupees ($116 million) of net inflows into equities up to Wednesday’s close, and 9.4 billion rupees worth inflows into government securities as of Sept. 13, official data showed. ($1 = 152.6000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

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