The Sri Lankan rupee closed marginally weaker on Friday, as demand from importers for the US currency outpaced dollar conversions by exporters and inward remittances, dealers said. The spot rupee closed at 153.75/80 per dollar, compared with Thursday's close of 153.65/75. "There was remittance inflow today for salaries but the rupee ended a little weaker on importer dollar demand. General import demand was there," said a currency dealer who declined to be identified. "We can see some exporters booking forwards due to favourable forward premiums."
Though the rupee is under pressure, it may not fall as much as the market previously expected, dealers said. The market expected a 4 percent fall in the currency for 2017, while it has lost 2.7 percent so far this year.
Comments
Comments are closed for this article.