The Sri Lankan rupee closed slightly weaker on Monday in dull trade, while dollar selling by a state bank limited the downside, dealers said. The rupee, which went as far as 158.90 per dollar intraday, ended at 158.70/90 per dollar, compared with Friday's close of 158.60/159.00.
The spot rupee hit an all-time low of 160.17 per dollar on Wednesday, and has declined 3.5 percent so far this year. "We have seen a state bank selling at 158.90 today, possibly on behalf of the central bank. Today there was not much of trade," a currency dealer said.
Central bank officials were not available for comment. The pressure on the rupee eased last week after the island nation received more than half a billion dollars from a Chinese port operator.
After market hours on Wednesday, the state-run port authority said China Merchants Port Holdings has made a $584 million payment as part of a $1.12 billion deal to operate the deep sea Hambantota port. Dealers said they expect the rupee to trade in the 163-165 per dollar range by the end of the year.
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