COLOMBO Oct 18 The Sri Lankan rupee ended
weaker on Tuesday on dollar demand from importers in the absence
of central bank intervention, dealers said.
Rupee forwards were active, with the spot-next ending
at 147.25/35 per dollar, compared with its previous day close of
The spot rupee was quoted at 146.90/95 per dollar,
but hardly traded. It was steady last week after two weeks of
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 importer (dollar) demand and traders were
reluctant to trade spot below 146.90 because the central bank
prevented its trading below this level (last week). But central
bank intervention was not seen today," said a currency dealer,
asking not to be named.
The central bank has been buying dollars from the market to
accumulate reserves to meet targets set by the International
Monetary Fund under a $1.5-billion loan deal, dealers said.
Officials at the central bank were not available for
Dealers said they expected the rupee to remain under
pressure due to seasonal imports.
(Reporting by Shihar Aneez; Editing by Amrutha Gayathri)