COLOMBO, April 7 The Sri Lankan rupee ended
weaker on Friday as importer dollar demand and dividend payments
outpaced inward remittances and dollar sales by exporters ahead
of the festival session, dealers said.
Rupee forwards were active, with two-week forwards
ending at 153.00/10 per dollar, compared with Thursday's close
The central bank on Wednesday cut the spot rupee
reference rate by 10 cents to 151.60, dealers said.
"There was some importer (dollar) demand and some dividend
or royalty payments going through a couple of foreign banks,"
said a currency dealer who did not wish to be named.
The rupee has been under pressure due to increased seasonal
imports ahead of the traditional new year later next week,
although dealers expect the pressure to ease with seasonal
Outflows due to rupee bond sales by foreign investors have
also been putting pressure on the currency.
Foreign investors net sold government securities worth 950
million rupees ($6.3 million) in the week ended March 29. They
have net sold 64.2 billion rupees of such instruments so far
($1 = 151.6000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil