Sri Lankan rupee ends weaker on importer dollar demand

COLOMBO: The Sri Lankan rupee ended weaker on Tuesday due to importer dollar demand and weak exporter dollar sales, dealers said.

The rupee ended at 140.55/60 per dollar compared with Monday's close of 140.40/45.

"Exporters are holding on and not converting many dollars.

They expect a further fall," said a currency dealer who asked not to be named.

The rupee hit a record low of 141.40 per dollar on Sept 28, but recovered slightly after a state-run bank sold dollars.

Dealers said importer dollar demand has fallen following government measures to discourage vehicle imports but the seasonal imports are expected to pick up.