December 18, 2017 / 11:18 AM / 8 months ago

Sri Lankan rupee ends largely flat in dull trade

COLOMBO, Dec 18 (Reuters) - The Sri Lankan rupee closed little changed on Monday as importer dollar demand offset selling of the U.S. currency by exporters, dealers said.

The spot rupee ended at 153.10/15 per dollar, compared with Friday’s close of 153.12/20.

“It was a very dull day. The rupee traded in a very narrow range,” said a currency dealer.

The rupee has lost 2.4 percent so far this year, but currency dealers say dollar demand has slightly waned, lending support to the rupee.

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 18.39 billion Sri Lankan rupees ($120.08 million) this year as of Monday’s close. They had bought government securities worth a net 62.4 billion rupees as of Dec. 13, official data showed. ($1 = 153.1500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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