COLOMBO, Sept 29 The Sri Lankan rupee ended
weaker on Thursday, posting its fourth straight session of
losses, as dollar demand from importers exceeded mild greenback
sales by exporters and low inward remittances, dealers said.
The spot rupee ended at 146.90/147.00 per dollar,
compared with Wednesday's close of 146.62/70. It has fallen 0.7
percent so far this week.
"Some exporters are expected to come in if the spot rupee
crosses 147 levels," a currency dealer said asking not to be
The Sri Lankan central bank's decision on Wednesday to hold
key monetary policy rates steady suggested that policy makers
were keen to support a slowing economy even as they kept a tight
leash on rampant credit growth, analysts said.
After the rate decision, treasury bill yields dipped between
16 and 33 basis points.
Private sector credit growth was at 28.5 percent
year-on-year in July, its highest since August 2012, but central
bank chief Indrajith Coomaraswamy said on Wednesday that the
central bank expected the credit expansion rate to slow to 20
percent by the year-end.
The central bank is under pressure from the International
Monetary Fund (IMF) to continue rebuilding international
reserves and maintain exchange rate flexibility to develop the
foreign exchange market further.
(Reporting by Shihar Aneez and Ranga Sirilal; Editing by