Sri Lanka rupee ends steady; state bank dollar sales offset importer demand

COLOMBO: The Sri Lankan rupee ended steady on Wednesday as dollar selling by a state-run bank offset importer demand for the greenback, dealers said.

The rupee ended at 133.50/60 per dollar on Wednesday.

"There was importer dollar demand throughout. Exporters are not selling dollars," a currency dealer said on condition of anonymity.

On Monday, the state-owned bank cut the currency's peg to the dollar by 10 cents to allow the exchange rate to appreciate to 133.50.

Some dealers expect the currency to be less volatile until the Aug. 17 parliamentary elections.