COLOMBO, April 18 The Sri Lankan rupee closed
weaker on Tuesday due to dollar demand from importers, but the
currency is expected to steady in the near term, dealers said.
Rupee forwards were active, with two-week forwards
ending at 153.15/25 per dollar, compared with Monday's close of
"There is some importer demand and we see the currency
stabilising at these levels," said a currency dealer who
"Given the central bank's spot currency reference
rate at 151.90, two-week forwards should be around 152.80/90."
The currency was under pressure due to higher dollar demand
from importers and selling of government securities by foreign
investors until early this month.
Foreign investors have, however, turned net buyers of both
equities and government securities since early this month.
Overseas investors have net bought 5.23 billion rupees worth
of equities in the last 17 consecutive sessions. They also net
bought government securities worth 1.87 billion rupees in the
week ended April 12.
However, they have net sold 62 billion rupees worth of
government bonds so far this year.
(Reporting by Shihar Aneez; Editing by Biju Dwarakanath)