Sri Lankan rupee forwards ended slightly weaker on Thursday due to dollar demand from importers despite the central bank's intervention via moral suasion to prevent a sharp fall in the currency, dealers said. Exporters were reluctant to sell dollars ahead of the budget announcement for 2015 on Friday, dealers said. President Mahinda Rajapaksa is expected to present on Friday a populist election budget for 2015 that manages to contain borrowing mainly to an expected pickup in the pace of economic growth.
The spot currency was quoted at 130.75/131.05 per dollar but not traded, dealers said. It closed at 130.60/80 on Friday. The three-day forwards, or spot-next, actively traded in the absence of spot, ended at 131.00/131.05 per dollar, compared with Tuesday's close of 130.90/131.00. Both the currency and stock markets were closed on Wednesday for a holiday.
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