September 7, 2017 / 11:38 AM / a year ago

Sri Lankan rupee ends lower on importer dollar demand

COLOMBO, Sept 7 (Reuters) - The Sri Lankan rupee ended marginally weaker in thin trade on Thursday as importer dollar demand outpaced selling of the U.S. currency by exporters and banks, dealers said.

The spot rupee ended at 152.70/80 per dollar, compared with Wednesday’s close of 152.55/65.

“There was a bit of buying by smaller banks, a bit of importer demand was seen,” 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 had seen 27.7 billion rupees ($181.52 million) of net inflows into equities up to Thursday’s close, and 5.7 billion rupees worth inflows into government securities as of Aug. 23, official data showed. ($1 = 152.6000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)

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