REUTERS: The Sri Lankan rupee ended slightly weaker yesterday due to importer dollar demand, while selling of the U.S. currency by a private bank prevented a sharp fall, dealers said.
The private bank might have sold dollars on behalf of the Central Bank, some dealers said. Officials at the Central Bank were not available for comment on the matter.
he rupee ended at 144.00/144.10 per dollar, slightly weaker from Wednesday’s close of 143.95/144.10.
“A private bank sold dollars at 143.90 and prevented the fall,” said a currency dealer, asking not to be named.
The dollar selling by the private bank has prevented a fall in the last few days, dealers said.
The market, however, expects pressure on the rupee to ease due to a 150-basis-point increase in the statutory reserve ratio of commercial banks from Jan. 16 and on expected inflows from foreign deposits.