The Sri Lankan rupee ended marginally weaker on Thursday due to dollar demand from importers as well as banks to facilitate foreign outflows from government securities, dealers said. Rupee forwards were active, with two-week forwards closing at 151.02/10, slightly weaker from Wednesday's close of 151.00/10.
"The rupee continues to be under pressure. It is reflected in the central bank's continuous moves to lower the reference rate," a currency dealer said, requesting anonymity.
The central bank had revised the spot rupee reference rate to a record-low of 150.50 from 150.25 on Tuesday.
"This means they do not want a stronger currency and want to allow gradual depreciation."
The rupee also faces depreciation pressure due to seasonal importer dollar demand, dealers said.
Finance Minister Ravi Karunanayake said it was a turbulent time and the government would navigate it "in a correct manner". "I wouldn't want to speculate at all. But you'll be surprised of what we will be doing," Karunanayake told reporters in Colombo when asked about the government's outlook on the rupee.
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