Sri Lankan rupee weakens

The Sri Lankan rupee closed weaker on Wednesday due to dollar demand from importers, dealers said, as the local currency snapped two days of gains on dollar selling by foreign banks. The rupee has been under pressure due to rising imports and net selling of government securities by foreign investors, and a central bank decision to adjust the spot rupee reference rate to a record low of 150.15 rupees to the dollar.
Rupee forwards were active on Wednesday, with two-week forwards ending at 150.75/80 per dollar, weaker from Tuesday's close of 150.55/65. One-month forwards closed at 151.25/35, down from the previous day's close of 151.00/10-.