COLOMBO, Sept 6 The Sri Lankan rupee ended
higher on Tuesday as dollar selling by exporters and banks on
behalf of foreign investors to buy government securities helped
the currency amid a lack of demand from importers for the
greenback, dealers said.
The spot rupee ended at 145.43/48 per dollar,
slightly firmer compared with Monday's close of 145.45/50.
One-week rupee forwards ended at 145.60/70, compared with
the previous close of 145.60/65.
The spot rupee is usually managed by the central bank, and
market participants use the forward market levels for guidance
on the currency.
"There was some (bank dollar) selling (on behalf of foreign
investors) to buy bonds as well as some exporter conversions," a
currency dealer said, asking not to be named.
Dealers said seasonal importer demand would pick up from
Central bank Governor Indrajith Coomaraswamy said last week
that the currency was not under upward pressure as capital
inflows had not been of sufficient magnitude to exert such
The central bank has largely not intervened to defend the
rupee ever since a dual-tenure sovereign bond issue raised $1.5
billion in July.
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju