COLOMBO: The Sri Lankan rupee gained against the US dollar on Tuesday as exporter dollar sales outpaced importer demand for the greenback even as state banks prevented any further appreciation, dealers said.
The rupee was trading at 130.13/15 per dollar at 0800 GMT, a tad firmer from Monday's close of 130.15/16. It had hit a two-week low of 130.26 per dollar on Wednesday.
Two state banks, through which the central bank usually intervenes in the market, bought dollars at 130.13, two cents below Monday's rate, to prevent sharp gains and excessive volatility, dealers said.
"The market was sluggish today. The state banks lowered the dollar buying rate by two cents," said a currency dealer.
Yields on five-year bonds were trading at 7.48/58 percent, 13 basis points (bps) higher than on Monday, dealers said.
Sri Lanka's main stock index was down 0.02 percent, or 1.05 points, at 6,973.66 at 0803 GMT, but still hovering close to its highest since Sept. 12, 2011.
Turnover was 7.77 billion rupees ($59.70 million) on block trades in conglomerate John Keells Holdings Plc, which was up 1.25 percent. The bourse saw 85.1 million shares changing hands.
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