Sri Lanka's rupee closed slightly firmer on Thursday due to dollar selling by exporters, while stocks edged higher for a second straight session, moving away from an eight-week closing low hit early this week. The rupee closed at 181.60/80 per dollar, compared with 182.15/25 in the previous session, market sources said. On Jan. 3, the rupee fell to an all-time low of 183.00 against the dollar.
The currency has appreciated 0.6 percent so far this year, Refinitiv data showed. Worries over heavy debt repayment after a 51-day political crisis have dented investor sentiment as the county is struggling to repay its foreign loans, with a record $5.9 billion due this year including $2.6 billion in the first three months.
The central bank chief last week said around $5 billion borrowing in the pipeline could help debt repayments. The International Monetary Fund last week said it would resume discussions for further disbursal of part of a $1.5 billion loan amid investor worries of heavy debt repayments. The rupee fell 16 percent in 2018, according to the central bank data.