Rupee gains as exporters sell dollars

REUTERS: The Sri Lankan rupee ended firmer yesterday as dollar selling by exporters surpassed mild demand for the greenback from importers, dealers said.

The spot rupee ended at 152.65/75 per dollar, compared with Wednesday’s close of 152.70/85.
“There was some exporter (dollar) selling and importer demand was not there,” said a currency dealer requesting anonymity.

The rupee has been under pressure since January after the Central Bank stopped defending the currency and started buying dollars to build up the country’s depleted foreign currency reserves.
The island nation saw Rs.17.7 billion of net inflows into equities up to Wednesday’s close, and Rs.9.4 billion worth inflows into government securities as of September 13, official data showed.