COLOMBO: The Sri Lankan rupee traded steady against the dollar on Tuesday as inward remittances and sales of the greenback by exporters offset demand from importers, dealers said.
The dealers expect the local currency to remain steady for the rest of the year after central bank Governor Ajith Nivard Cabraal said recently the banking regulator would intervene in the thinly-traded market whenever needed to keep the rupee stable.
The rupee was trading at 130.20/21 per dollar at 0511 GMT unchanged from Monday's close. "The rupee is trading steady as there is not much of imports and there are normal inward remittances and the exporter dollar sales," said a currency dealer.
Foreign investors bought a net 250 million rupees ($1.9 million) worth of government securities in the week ended Aug. 27, official data showed.
Sri Lanka's main stock index was down 0.15 percent, or 10.61 points, at 7,020.28 at 0514 GMT, hovering near its more than three-year highs.
Turnover stood at 186.1 million Sri Lankan rupees ($1.4 million), with 9.9 million shares changing hands.
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