Sri Lankan rupee steadies

The Sri Lankan rupee ended steady on Friday with dollar buying by a foreign bank and importers weighing on the local currency, while exporters stayed on the sidelines expecting the rupee to weaken further in line with other emerging market currencies. A possible slump in the country's top agriculture export, tea, due to heavy rains also weighed on the sentiment.
Heavy monsoon rains have killed 16 people, prompting authorities to warn against landslides and floods in low-lying areas after spill gates had to be opened across the Indian Ocean island. The spot rupee ended little changed at 158.15/25 per dollar, compared with Thursday's close of 158.15/20.