Ru­pee ends weaker in dull trade

Daily Mirror (Sri Lanka) - - LATE CITY -

The Sri Lankan ru­pee closed slightly lower in thin trade yes­ter­day, hov­er­ing near an all-time low hit ear­lier this week, as im­porter dollar de­mand sur­passed mild sell­ing of the green­back by banks, deal­ers said.

The spot ru­pee ended at 159.65/80 per dollar yes­ter­day, lower than Tues­day’s close of 159.50/70. It hit an all­time low of 159.80 per dollar on Mon­day. The ru­pee has de­clined 4 per­cent this year.

“It was a quiet day. There were not many in­ter­bank trades, pos­si­bly they must be cov­er­ing through their own flows,” a cur­rency dealer said.

The ru­pee is un­der pres­sure mainly due to the global trend, and was not spe­cific to the coun­try’s cur­rency, deal­ers said.

They ex­pect the ru­pee to trade in the 163-165 range by end of the year.

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