COLOMBO, July 19 (Reuters) - The Sri Lankan rupee
dropped to a 10-month low on importer dollar demand late on
Friday after posting a recovery helped by exporter dollar sales
earlier, dealers said.
The rupee ended at 131.60/70 to the dollar, marginally
weaker than Thursday's close of 131.60/65, its lowest since
'There was no dollar buying by state banks for oil imports,
but still we see the pressure on the rupee,' said a currency
Dealers said the rupee would move in a range of 131.50 to
132.00 in the short term and would continue to depreciate unless
the central bank took some monetary tightening measures.
The rupee has fallen 4 percent since June 7 as foreign
investors pulled out of Sri Lanka's treasury bonds due to a rise
in U.S. treasury yields.
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Jijo
Keywords: MARKET SRILANKA/RUPEE
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