Home News Business Lankan rupee strengthens on dollar sales

Lankan rupee strengthens on dollar sales

COLOMBO

The Sri Lankan rupee ended slightly firmer on Friday as banks and exporter dollar sales surpassed the mild importer demand for the US currency, dealers said.

The spot rupee ended at 153.05/10 per dollar, compared with Thursday’s close of 153.10/20.

“Banks sold dollars due to some remittance inflow and exporter sales. The state banks were not very active today and there was not much of (importer) demand also,” a currency dealer said. Dealers said the market sees gradual depreciation of the rupee and exporters have been reluctant to sell the dollar on speculation that the rupee would fall below 160 per dollar.

Agencies