COLOMBO: Sri Lanka rupee forwards eased on Tuesday due to dollar demand from importers, while exporters stayed on the sidelines hoping for further weakening of the currency, dealers said.
Four-day forwards, which were actively traded, ended at 132.45/50 per dollar compared with Friday's close of 132.25/30, dealers said. Markets were closed on Monday for a special holiday.
Dealers said one-week rupee forwards were also active after the central bank capped the four-day forwards at 132.40. The one-week forwards ended at 132.58/60.
There is importer dollar demand and the weak rupee is a clear reflection of global currencies, a dealer said.
Rupee forwards were maintained around 132.00 in December as the central bank defended the currency through moral suasion.
The spot was not traded on Friday.
Dealers said unusually high imports towards the end of 2014, amid lower interest rates and a stable exchange rate pressured the rupee.
The spot currency remained between 130.00 and 131.75 rupees throughout 2014, with the central bank defending it at both ends to ensure a stable exchange rate. It fell 0.3 percent for the year, Thomson Reuters data showed.
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