December 20, 2017 / 12:38 PM / a year ago

Sri Lankan rupee ends firmer on inward remittances, exporter dollar sales

COLOMBO, Dec 20 (Reuters) - The Sri Lankan rupee closed firmer on Wednesday, as exporter dollar sales and inward remittances exceeded demand for the U.S. currency by importers, dealers said.

The spot rupee ended at 152.90/153.00 per dollar, compared with Tuesday’s close of 153.05/15.

“There were some exporter (dollar) conversions and inward remittances,” said a currency dealer.

“The import demand is very low.”

The rupee has lost 2.3 percent so far this year, but currency dealers say dollar demand has slightly waned, lending support to the domestic currency.

The market has been waiting for more clarity over a foreign exchange management act introduced by the government last month.

Foreign investors have net bought equities worth 18.34 billion Sri Lankan rupees ($119.87 million) this year as of Wednesday’s close. They had bought government securities worth a net 62.4 billion rupees as of Dec. 13, official data showed. ($1 = 153.0000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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