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Sri Lankan rupee forwards steady

Sri Lankan rupee forwards ended steady on Monday as late importer dollar demand from a state firm offset early selling of the greenback by exporters, while pressure on the local currency is seen persisting through the middle of this year on lower interest rates, dealers said. Actively traded one-month forwards ended at 134.80/90 per dollar, little changed from Friday's close of 134.75/95. "There was importer dollar demand from a state company," said a currency dealer asking not to be named. Two-week and one-week forwards were steady at 133.90/134.00 and 133.60/70 per dollar, respectively. The central bank through moral suasion prevented the spot rupee from dropping below 132.90/133.20, a limit it set in February. Central bank officials were not available for comment.

Copyright Reuters, 2015