Sri Lankan rupee slips

Sri Lanka's rupee ended weaker on Friday as demand for dollars from importers outweighed dollar sales by exporters and residents exchanging remittances from workers abroad ahead of festivals in April to mark the local new year. The rupee weakened to 128.10/128.30 per dollar from Thursday's close of 127.60/127.80, snapping a run of four sessions of gains. The currency has risen 2.65 percent since it hit a record low of 131.60 on March 19.
But it has fallen 10.8 percent since the central bank stopped defending the currency on February 9. Analysts said depreciation pressures will remain in the medium to longer term until the country sees strong export revenues.