The Sri Lankan rupee ended slightly firmer on Wednesday due to dollar inflows from remittances and greenback sales by exporters after the dollar weakened overnight against major currencies globally, dealers said. The dollar could recover only a little ground on Wednesday against key currencies, after recording its worst start to the year in three decades on concerns the United States was poised to ditch a two-decade old "strong dollar" policy.
Dealers said foreign outflows from government securities and importer demand for the greenback continued to pressure the rupee. Rupee forwards were active, with two-week forwards trading steady at 151.00/10 per dollar, dealers said. The rupee will also face depreciation pressure due to seasonal importer dollar demand, they said. The Sri Lankan central bank revised the spot rupee reference rate to a record-low of 150.50 from 150.25 on Tuesday.
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