Rupee ends weaker in dull trade
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.